GET PRE-APPROVED FOR MORTGAGE
Once you have cleaned up your credit scores and know how much money you have to invest, work with a mortgage broker or bank and get a pre approval letter
The pre approval letter is your calling card that turns you into the next best thing to a cash buyer because it tells the seller that you are already approved for a mortgage. it is like an all-access pass to the properties in your price range. It telegraphs to a seller that you are not only qualified but prepared and serious about making a deal.you will want one long before you make an offer because it will make your offer stronger.
DON’T MAKE THE COMMON MISTAKES MOST FIST-TIME HOMEBUYERS MAKE
*LOOKING FOR A HOME FIRST AND LOAN LATER.
Homebuying doesn’t begin with home searching. It begins with a mortgage pre qualification and pre-approval — unless you’re lucky to have enough money to pay cash for your first house.
Often, first-time homebuyers “are afraid to get pre-approved. They fear the lender may tell them they don’t qualify for a mortgage or they qualify for a loan smaller than expected. “So they pick a price range out of the sky and say, ‘Let’s go look for a house.
And that’s not how it should be done. Yes, it’s more fun to go look at houses than to sit in a lender’s office where you have to expose your financial situation. But that’s a backward approach.
You get pre-approved, and then you find a home
That way, you’ll make a financial decision versus an emotional decision.
