GRAND JUNCTION, Colo. (KKCO) - As your last chance to get the first-time home buyer tax credit draws near, 11 News has some tips that might make getting that home loan easier.
Nov. 30 is the last day to get the home loan, but Lonnie Knob at Freedom Financial says you need to give your lender at least a month to get "all your ducks in a row."
Knob has a few other things you need to know before you try for that home loan.
1. Know your credit history. Make sure there's nothing on there you aren't aware of.
2. Make all your payments on time.
3. Pay down revolving debt.
4. Make sure you fill out everything on the application as honestly and complete as you can. Knob says they verify everything, including your income, debt, asses and bank account.
If your credit is good, your income stable, your debt under control and there are no other underlying factors, Knob says you should be in good shape. However, he stresses each case is unique so make sure you have done everything possible in planning for your home loan.
And if you're a homeowner looking to sell, Knob says it makes sense to make sure your home is updated and fully functioning. Apply a fresh coat of paint, make sure all appliances work, replace broken windows. Make the house look as good as new, that way it'll appraise at a higher value.