SOURCE: Gold Star Mortgage Financial

February 25, 2013 06:00 ET

Gold Star Mortgage Financial Offers Tips on Preparing for Home Buying Season

The Spring Home Buying Season Is Quickly Approaching, and Gold Star Mortgage Financial Has Some Tips on How to Prepare for It

ANN ARBOR, MI--(Marketwire - Feb 25, 2013) -  The spring home shopping season is rapidly approaching -- and Gold Star Mortgage Financial Group has a few tips on how aspiring homeowners can prepare for it. The company, a nationally recognized direct home lender, highlights a recent article from AOL Real Estate. The article predicts that the spring season will be a beneficial one for buyers and sellers alike, as all economic indicators point toward a potential flurry of activity; the AOL Real Estate article continues by offering a few recommendations for home buyers seeking to make the most out of the spring season. These tips have won a comment from Gold Star Mortgage Financial Group, which has weighed in with a new press statement.

"Many first time home buyers start looking for a house well before they begin to think about which lender they will use," warns Gold Star Mortgage, in its press statement. "This is a mistake that many people make. You should start researching lenders and even get pre-approved before searching for a home. This way, you will have an idea of how much money you will be able to borrow and if you will even be able to qualify for a loan."

These words of advice from Gold Star Mortgage Financial Group are affirmed by the article itself, which says that the very first step aspiring home buyers should make is to start thinking seriously about lenders. Before sitting down with lenders, though, buyers can lay the foundation for a positive home lender experience, specifically by checking their credit scores and making sure there are no errors or problems. Potential buyers are especially encouraged to pay off all bills in a timely manner and also to make sure credit card debts are paid off, all in the interest of ensuring the best home loan rates.

The article also recommends that individuals refrain from opening up new credit cards in the weeks leading up to a potential home purchase -- even if they have no plans of using those new credit cards yet. Home lenders are typically leery of such activities, AOL Real Estate confirms.

Next, the article suggests that potential buyers begin assembling cash. In many cases, the article notes, a 20 percent down payment will be required, to say nothing of taxes and fees, which might equal as much as five to 10 percent of the total purchase price.

The article also recommends hiring a buying agent, who will look out for the buyer's interests first and foremost -- something a selling agent is not guaranteed to do.

Gold Star Mortgage Financial is a nationally-recognized home lender, based in the Detroit area.

ABOUT:

Gold Star Mortgage Financial Group is a nationally recognized direct home lender, based in the Detroit, Michigan metro area. The company is known for its low rates and fees, and also for its emphasis on superlative customer service. Gold Star Mortgage was founded by Daniel Milstein, who is currently rated as the #1 mortgage originator in the country. The company is ranked as #349 on the INC500 list of fastest-growing companies.