Buy or Sell with Melinda in Middle Tennessee

Home Buying Myths Although the internet can be a great resource for a variety of information, a lot of that information is incorrect. One of the most important and expensive decisions in your life, home buying, tends to circulate a lot of misinformation. Most of that misinformation is in regards to how much of a down payment you need or what your credit score needs to be. Let's go over the real facts about buying a home and knock those myths out, so they don't hinder your ability to purchase!   CREDIT SCORES Though it may come as a surprise, you don't need a perfect credit score to purchase a home. Traditional bank lenders will work with credit scores as low as 640, but your agent can also get you connected with local lenders that accept credit scores as low as 580. Although there are other required stipulations to qualify for the loan, you don't need a perfect score in the 700's or 800's to get approved for a mortgage.  DOWN PAYMENTS

3 Questions To Ask Before Buying Your 1st Home The real estate market is constantly changing, so of course DO YOUR RESEARCH! DO NOT jump the gun on this one! Unbiased advice from family and peers may be kind, but you are the only one who knows what your needs are when it comes to buying a home.   WHAT MADE YOU CONSIDER OWNING A HOME? Forget finances for a minute and focus on what made you consider even buying a home in the first place! ·      Is your family expanding? ·      Does your family feel safe? ·      Is there a STELLAR school system in the area so your     children can get the education they deserve? ·      How about that unbearable landlord?   WHICH WAY IS THE REAL ESTATE MARKET GOING? DON’T SLEEP ON YOUR DECISION TOO LONG! Home prices are on the rise! Not only are they on their way back up, but these increases are happening monthly. Don’t believe us? According to Existing Homes Sales Report from the National Association of Realtors (NAR), the average price of homes in Ma