Now that you've decided to buy a home, there are some important things that you might want to get in order before you start the home buying process.

By doing a few things up front, you will be in a better position to act when you find the right property.

Start A "Home Buying" File: This "Home Buying" file should contain all of your important financial documents. You will need these when it's time to apply for your financing. Make copies of all of your financial statements including:

• bank accounts
• investments
• lines of credit
• savings accounts
• credit cards
• auto loans
• recent pay stubs
• 2 years’ tax returns
• List of 9 home features you MUST HAVE
• List of 9 things you DON'T WANT

If you haven’t already started putting money aside, now is the time to do so. You will need extra money to cover incidental home buying costs and closing costs (appraisals, inspections, insurance, etc.

Check Your Credit Rating? It's not quite as simple as knowing your credit score. Lenders look at a number of factors when deciding on how much they will lend to you for the purchase of your new home. You will want to pull a full credit report (you can get a free copy of your report annually by going to www.annualcreditreport.com). This lets you see everything that's on your report. You'll also want to know your credit "score" and you can get that at www.myfico.com. Credit scores range between 400 and 800. 620 + is considered “good”. 680-700 + is considered “premium” and may possibly help get you a lower interest rate.

If you do have issues on your credit report, try to resolve them before you start searching for your dream home.

Click Here to Learn How to Repair Your Credit

Below you will find individual information for each of the credit reporting agencies (Note: the credit scoring system is changing early 2007)

Get Pre-Approved by A Lender: There are several key benefits to getting pre-approved BEFORE you start your house search. First, you will know how much home you can afford to buy. There's nothing worse than falling in love with your dream home only to find out later that you cannot afford it. Second, when you present your offer, you will be in a better position than someone that has not already been pre-approved.

Keep in mind, you will want to be "Pre-APPROVED" rather than "Pre-QUALIFIED". To be contacted by one of our loan specialists, visit our finance center.

Be prepared with the answers to the following questions:

• Job and career status (Will need 2 years stable history)
  
• Income
  
• Monthly debt payments
  
• Cash available
  
• Total assets and debts
  

Don't Rock the Boat! When shopping for a home, hold off on changing careers (or even jobs). Don't buy a new car or boat. Keep and eye on your credit cards (Keep balances under 25-30% of the total limit). And don't start shuffling money around. Lenders like stability!