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Indianapolis, IN – Smart Moves for Homebuyers

woman on couchAre you ready to buy a home in Indianapolis, IN? Be prepared: With inventory tight and prices rising, this is a tricky time to be entering the market as a first time homebuyer in Indianapolis, IN. You may worry that you will be challenged while competing against more seasoned buyers when it comes time to put in an offer. Here are some smart moves that are recommended as you begin to enter the housing market.

Credit. Lock up your financials now and clean up your credit and save for a bigger down payment so that you’ll qualify for the best mortgage rate and avoid any fees. For the best loan rates you’ll need a score of 740 or better so aim high. You can boost yours by paying down credit cards and avoiding any late payments.

Alternative Mortgage Options. If you can’t get close to the 20% down payment or you have a mid-range credit score you can look into alternative mortgage options that can allow you to put down as little as 3.5%. Mortgage giants Fannie Mae and Freddie Mac launched programs last year that can help.

Pre-Approval. Getting a pre-approval means that a mortgage lender has checked your credit and verified your income and assets. This can give you a step up with the competition.

Get a Buyers Agent. A qualified Indianapolis, IN real estate agent can help you find listings and guide you through the financing, inspections, and price negotiations. Best of all their services are free to you since the home seller pays the commission.

Buying or selling a home can be quite an adventure. Whether you are in the market to sell your Indianapolis, IN home or you are wanting to buy a home in Indianapolis, IN you will benefit from the help of a real estate professional. When you are ready, contact an Indianapolis, IN real estate agent.

Rodney & Amanda Heard
Heard Real Estate Team

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