The first step in buying a home!
Pick a real estate agent you will love! The first step is not to start picking out homes and viewing homes, go under contract, do a home inspection and start moving in. Before you start looking at homes you need to talk to a lender to see what you qualify to purchase.
Why financing and qualifying for a mortgage is most important:
I know this does not sound exciting and sounds like a lot of work, it truly is not a bad as you think, but it’s essential for buying a home. A lender will determine how much money they are willing to lend to you for your home buying. In addition, you will understand how much you will need for a down payment, how much your monthly payments will be and how much you will need for closing costs. Think of it this way: why would you look at houses that you have no idea if you can afford/buy.
SAVINGS: If you don’t have any savings for a down payment, save as much as you can, the lender can tell you how much you will need (you don’t have to have 20%.)
CREDIT Blemishes: If you have blemishes on your credit, a lender can also recommend how to improve your credit. Start now!
Once you talk with a lender and get the green light to move forward and understand your payments and costs you are now ready for the fun part! Now it is time to start home shopping, congrats, let’s go!