Call a Indiana Real Estate Agent then call a lender:
I love my job. I love working with people and meeting people. Its wonderful to work with a first time buyer and help them to achieve their goal to own a home. Handing over the keys at closing to a new buyer is one of the reasons this job is rewarding to me.
When first working with a new buyer it can sometimes take awhile to get them on track. I get alot of calls with the scenario below.
A buyer calls or emails and wants to go and view a home. I ask, if they have been pre-qualified for a home loan and they sound irritated. "I just want to go and look at homes right now, they say. I know my credit is good. I will have no problem getting a loan."
I have to explain to first time buyers that its for their own good that they get pre-qualified for a home loan.
There is a right way and a wrong way to go about buying your first home. Being prepared and doing it the right way means less stress and maybe saving you from big disappointment. Finding a home you love and finding out you don't qualify to purchase that home can hurt and deflate the best of ego's.
So what is the right way to purchase.
Getting pre-qualified should be the #1 first item to do before you view homes. Months ahead is best so you can be pre-pared to make needed corrections. Not everyone needs corrections on their credit report but some do. Sometimes a buyer needs to open a line of credit and it can take a couple of months to get a line of credit established and reported to the credit bureaus.
Getting pre-qualified early will help to re-assure you that you are ready to make an offer on a home but also will tell you what price range you need to be in. If your lender says you can go to $280,000, you don't want to look at homes above that range.
Seriously consider Calling a Real Estate Agent and ask for lender contacts to get pre-qualified. Let the Realtor know your circumstances.
Are you going Conventional, VA, FHA, USDA or Indiana housing or some other special home loan in your particular state? Your Real Estate Agent needs to have as much information as possible so they can guide you to the right lender. All lenders are not a like. Some lenders don't do VA loans, some don't do Indiana housing. Also some lenders are terrible when it comes to time to close. A good Realtor will be able to give you direction and advice in this area.
Buying a home should be as stress free as possible and getting pre-qualified for a home loan is the first step and it leads to all of the next steps.
Good luck! Buying a home is something to smile about.
Shannon Thomas Real Estate Broker
Avon Indiana
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