When you are ready to by a home the best place to start is to find out what you can afford and the best way to do that is to find a lender and have them work with you to get Pre-Qualified for a loan.
This usually is not a long process (usually 24-48hrs) but depending on your circumstances, it is a good idea to do this before you ever start to look for homes...Why?
If you find the home that you really want and you do not have a Pre-Qualification letter - while you are getting that take care of, someone else could make an offer on your dream home
So here is a place to start:
- Find not just one but at least two lenders - they will be able to give you an idea of what programs will work for you and what you can afford
- Know what kind of load you want - Below are some resources you can click on and find out more information:
Step-by-Step Process to Buying a Home:
http://www.directorsmortgage.net/oregon-real-estate/steps-to-
purchasing.html
Typed of Home Loans - Buyers Guide:
http://www.homebuyinginstitute.com/mortgage-types-23.php
Mortgage Calculators:
http://www.summit-wa.com/MortgageCalculators
- Gather the necessary information before you meet with a lender (see Check List Below)
- Speak with your Agent to give you an idea of what lender would work best with what you want in your home loan (they are not lending experts, but have experience and will know what programs most homes will require)
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