Many times, a home is a person’s single largest purchase in life, which can make house hunting intimidating. But buyers who follow these simple tips can help ensure that their house hunt leads to the right home and a smooth buying process.
1. Get Pre-Approved for a Loan
Before buyers begin house hunting, they should get pre-approved for a mortgage loan. Pre-approval means a lender conditionally promises to lend a buyer a certain amount of money to purchase a home. Once a buyer agrees to purchase a specific home, pre-approval can speed up the loan process. To get loan pre-approval, a buyer typically needs to provide the lender with financial documents such as pay stubs, W2s, bank and other account statements and tax returns; personal information such as a Social Security number and previous addresses; and the lender will run the buyer’s credit…
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