Now that you are interested in purchasing a home of your own, it is also a good time to review your credit report, checking closely for correctness. If you are married, you and your spouse will have separate credit files that contain much of the same information. You need to have a good credit rating to buy a home, but it does not have to be perfect! Your credit rating is the history of money you have borrowed and repaid.

Congratulations on making the legacy-building decision to purchase a home! Now that the process is underway, you should get familiar with the terms below. I will do my best to explain everything to you step-by-step but make sure you read through the list so you know what, why, and when we do certain things during the home-buying process.

Not only are veterans and active-duty service members eligible for a VA loan, but some surviving spouses, reservists, and Natural Guard members are, too. This loan is guaranteed by the VA and offered by mortgage lenders. One of the major advantages of obtaining a VA loan is that a down payment is typically not required, which is extremely helpful for home buyers, as they don’t have to worry about being able to pay a certain percentage of the loan to qualify.