 Click photo for free credit evaluation. If you’re thinking of purchasing a home anytime this year, you should be checking your credit scores now. Buyers often make the mistake of not checking ahead of time. Here are several reasons why you should check credit scores months before purchasing a home in the greater Minneapolis / St. Paul MN area.
Identifying Credit Report Errors According to the Federal Trade Commission, 1 in 5 Americans have an error in his/her credit report. Some errors are minor and do not affect scores, but others can be “material errors” that negatively impact credit scores. Correcting material errors will increase your score and improve your chances of qualifying for the best mortgage programs and rates available. This can be a big help when purchasing a home in the greater Minneapolis / St. Paul MN area. Correcting credit report errors can take several months. It involves contacting the credit bureaus (Equifax, Experian, and Transunion) and/or creditors. You need to start now to have sufficient time to resolve issues before applying for a mortgage. Improving Credit Scores If your report does not contain errors but your score is a bit low, there are things that you can do to improve your scores. It takes time, so it’s best to get a head start. Here are a few things that you can do…
Understanding Your Path to Homeownership Check credit scores months before purchasing a home in the St. Paul MN area so that you know where you stand and what you need to do to buy a home. Planning is key and it all starts with your credit scores. You may request a free credit report once every year from the 3 major credit bureaus. You can also contact a mortgage lender for this information and for guidance on mortgage programs and options. Contact me today to get started!  Click here to start your mortgage pre-approval. If you’re planning to make Greater St. Paul/Minneapolis MN spring home purchases, now is the best time to get a mortgage pre-approval. Why? Here are a few key reasons why completing this step ahead of time is important to your home buying plans.
Properly Monitor the Market As winter progresses and turns into spring, there will be an influx of new home listings. You have probably already started monitoring homes for sale, comparing features, and evaluating how much you can get for your budget. You really need to know your true price range in order to do all of this effectively. Otherwise you will be wasting your time monitoring the wrong listings. Have Time to Improve Your Credit Most home buyers don’t realize that they have issues with their credit report until they obtain a mortgage pre-approval. Credit scores and credit history have a direct impact on your qualification for different mortgage programs and the interest rate that you receive. Identifying issues ahead of time will give you an opportunity to correct them and possibly improve your score. This will help your home purchase plans and finances. Be Ready to Act The market has been competitive lately and there are no signs that this is changing yet. Homes are selling fairly quickly and sometimes with multiple offers. Having a pre-approval completed and ready for your Greater St. Paul/Minneapolis MN Spring home purchase gives you the ability to act when you find the right property. In this market, sellers are unlikely to accept offers from buyers without mortgage pre-approvals. You could miss out on your dream home if you’re scrambling to request a pre-approval while other buyers sneak in their offers ahead of yours. Set yourself Up for Success Not having a mortgage pre-approval can add stress and negativity to your Greater St. Paul/Minneapolis MN home buying plans. Imagine seeing the home of your dreams but not being able to act in time, or falling completely in love with a home only to find out that it’s beyond your price range. Every home after that may be ill in comparison. The psychological impact of these situations can be damaging. Although the home buying process can be somewhat complicated, it should be a happy experience with a positive ending. Completing the pre-approval now allows you to shop with confidence and to position yourself for success and happiness. Getting a Mortgage Pre-approval for Greater St. Paul/Minneapolis MN Spring Home Purchases So now that you understand why it’s important to obtain a mortgage pre-approval now for your upcoming Greater St. Paul/Minneapolis MN spring home purchases, it’s time to get started. Gather paperwork such as tax returns, pay stubs, bank statements, investment account statements, etc. and contact me, Kristin Dahl, at 612-747-2960. I service all of Minnesota and Wisconsin. I will evaluate your finances and explain your mortgage options. Before you know it, it will be spring and you’ll be well on your way to getting that dream home. 
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