Then there's the task of finding the right mortgage lender.
Credit history is a key component in buying a home.
Mortgage lenders closely review borrowers' credit reports to determine whether they are a good lending risk based on past performances. Any problems, like late payments or delinquencies, can delay or even thwart a deal. Frances B. Smith, executive director of the consumer advocacy group Consumer Alert in Washington, agreed, noting the competitiveness for buyers in many parts of the country these days. In today's real estate market, people are snapping up houses and they're putting in offers at open houses. Industry experts strongly urge home buyers to order umoted biweekly mortgages as a less-expensive alternative to refinancing.