It may seem that according to the news the housing market is dead and you can't begin to buy a home. But in reality people are still able to get loans and at fairly low rates. Now the mortgage lenders have tightened up on lending but they are still willing to make loans. So what should you do? Your ability to borrow is based in large on your credit report and score. You can check this report once a year for free at www.freecreditreport.com . Basically lenders look at your credit score, the higher the number the better. This is based in part on if you pay your bills on time, how much debt you currently have and what your gross salary is.
If you think you are ready to start looking for a new home you should get a pre qualification letter from your lender. This will give you an idea on what price range you can start looking at for your new home. You don't want to spend time looking at homes that you don't know if you can afford, that's why knowing what you can borrow first is important. Then once you get your letter contact your real estate agent and tell them your price range and what you're looking for and the search for your new home can truly begin.
Good luck in your real estate search.
Kirk Realty Group, LLC
618 Wabash Ave
Terre Haute, IN 47802