FIRST TIME HOME BUYER | PROCESS OF PURCHASING

The Real Estate Hour

You’ve decided it’s time to stop renting and make the leap into home buying – congratulations! Where do you begin? Frequently a new buyer will approach me and say “I can afford a $150,000 House”. I then ask if they been pre qualified for that amount. Typically the answer is no. So this is where you begin…with the end in sight.

Many buyers will contact the loan officer at the bank they have already been established with. However, it’s a good idea to shop around. I like to give my customers options! Compare interest rates, terms, and see what types of loans different lenders offer. Typically I give my customers 2-3 lenders to contact so that they know all the options available.

The lender will collect your financial information so that a determination can be made as to a whether or not they believe they will be able to give…

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