The first thing you should do as a Oakland County first time home buyer MI 

             is to get your financing lined up.  There is no sense going out to look at

              homes when you don't know what you can afford.  So call up your local mortgage

                           broker, stop in your local bank or credit union, or surf the net for a mortgage

                                         person.  There are lots of them here on Active Rain too.

The loan officer will ask you about you income, pull your credit, find out

           what kind of payment you want.  Once they know you can qualify they will

                  issue you a pre-approval letter.  What a pre-approval letter states is that you

                               can buy a house up to a certain purchase price or certain loan amount.

Does that mean you should buy a house for that much?  HECK NO!   You and

             your spouse or significant other should sit down and determine yourselves

                    what kind of house payment you can afford.  Be sure to include property taxes

                          and homeowners insurance.  The loan officer may qualify you for a much bigger house

                               and house payment than you want.  You need to decide for yourself what kind of

                                    payment you want!   Then once you decide that, tell your loan officer and your

                                         Metro Detroit Realtor what type of payment you want. 

As a Oakland County first time home buyer MI you are probably thinking why do I need

              a pre-approval letter?  There is no listing agent or bank that will accept a purchase

                    offer without a pre-approval letter.  The seller wants some assurance that you are

                         qualified to buy that home.  That the loan will close.  Without a that how does a seller

                               you know that the Oakland County first time home buyer MI can get a loan? The seller

                                    can't without it.

So getting your finances and pre-approval letter is the first step in your home buying process.

                If you have  questions feel free to call me or email.  info@russravary.com or cell phone

                       (313) 310-9855.  Russ Ravary your Metro Detroit real estate agent

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