1. Keep an eye on your credit. With identity theft increasingly more common, you should review your credit report regularly. Also, if your credit score is low, take steps to improve it each time you check your report.
2. Save up for a down payment—or just for a rainy day. Even if you have no plans to buy a home in the near future, regularly putting away a little bit of money for a future down payment is a wise idea. And if you don’t use that money for a down payment, consider it a rainy day fund.
3. Use your home equity. Chances are good that your home has increased in value over the past few years. The new year might be the perfect time to take advantage of your home equity by using it to fund a large remodel project or pay down some debt.
4. Keep a good household budget. Having a household budget can help you stay on track with your finances and understand what your household expenses are each month. If you’re going to buy and/or sell a home next year, a budget is essential.
5. Don’t obsess over interest rates. Speaking of the rates, resolve not to worry about the rates next year. The rates can impact you financially if you’re buying or refinancing, but with a little planning and the help of your mortgage professional, you can still get a good mortgage at a good rate.
6. Keep in touch with your real estate agent and mortgage pro. Don’t just contact your agent or mortgage professional when you’re getting ready to buy, sell or refinance. You can get plenty of advice, tips and help if you stay in touch with them on a regular basis.
7. Buy or sell—if the time is right for YOU. If you’re ready to buy or sell a home, don’t worry about factors you can’t control, such as the state of the market or interest rates. If the time is right for you personally, don’t be afraid to get the ball rolling.
For more than 25 years, Omega Financial has been serving mortgage clients in Massachusetts. Our brokers have approximately 50 years in the mortgage business. You always will receive fast, courteous, and accurate information. Omega Financial, Inc. is a company duly licensed to operate in Massachusetts as a Mortgage Brokerage. We are located in the Town of Norwood, Massachusetts where we have been operating as Omega Financial Incorporated since 1988.
Licensed by the Commissioner of Banks - License No. MB2671
All content copyright Left Field Media. Not for reproduction, republishing or reposting.