Home Buying - Where to Start

By
Real Estate Agent with Lyon Real Estate - El Dorado Hills CA DRE# 01499004

What came first the chicken or the egg?  That question is very debatable as is the Home Buying question Where to Start?  Well there are lots of options for today's home buyers. 

* You can definitely search for homes for sale on various websites available,  including mine

* You can visit open houses on the weekends

* You can find a Realtor to show you homes

Those options all work fine if you will be paying cash but if not... where to start when home buying is with a lender! 

As with a Realtor, you'll want to choose one you can trust not just one that lures you in with the lowest interest rates. If possible a local lender is best but at the very least one that you can communicate with and is working with you directly.  I'm not a fan of online lenders!   You may find out you have to clear up a few things on your credit in order to qualify. You may find out  that you will qualify but only for an FHA loan.  You may find out that you need to save a little more for your down payment.   These are things you and your Realtor will need to know when searching for a home.   Once you've qualified through a lender all the above options are yours!

As a word of caution - don't fall in love with a home you can't afford! Your lender will be able to tell you what loan amount you'll qualify for and and based on your down payment, your purchase price range. 

Below is a illustration from Vitek mortgage showing the loan process and where we as Realtors enter the picture.

Home Buying - Where to Start

 

If you need a referral for a lender, feel free to call or email me.  When you are ready to buy, I would love to be your Realtor!

 

Comments (10)

John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Are you looking for a knowledgeable and experience Realtor to assist you with your El Dorado CA real estate needs?  If so be wise and contact Agent DeeDee Riley and put her to work for you today!

Nov 15, 2014 12:07 PM
Ann Marie Clements
Remax Realty Group - Gaithersburg, MD
Montgomery County & Frederick County

Good tip! Don't fall in love with a house you can't afford. The first think to do is get prequalified. 

Nov 15, 2014 12:07 PM
Catherine Ulrey
Keller Williams Capital City - Salem, OR
Equestrian and Acreage Property Specialist

It seems so obvious to us that there is a process to this.  It would make life, and the process, so much easier for buyers to follow the plan!

Nov 15, 2014 12:15 PM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Dee dee,  You are so smart and this is very well written.  Good Job, keep up the great work!

Nov 15, 2014 12:22 PM
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker Realty, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

DeeDee Riley - Great information and help for any El Dorado Hills Home buyers.  I hope those that need help will call you!

Nov 15, 2014 12:56 PM
Michael Dagner
Brokers Guild Classic - Denver, CO
Your Denver Homes Realty Expert

DeeDee, thats right.  No better place to start than with your lender, or your real estate agent, who'll refer you to a great lender.  Nice visual of the steps involved.

Nov 15, 2014 01:51 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

DeeDee I always suggest sending the buyers to the Lender and in the mean time set up search program of the areas they like to see all price points....Endre

Nov 15, 2014 03:59 PM
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

Having a good Realtor like yourself can help those in the market with so many of these decisions DeeDee. 

Nov 16, 2014 04:42 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Dee Dee, I couldn't agree with you any more. If a buyer is not paying cash, they need to start their home buying process by meeting with a lender.

Nov 16, 2014 09:07 AM
Waynette Hoover Araj
Keller Williams Realty - Asheboro, NC
Connecting your Dreams with the Right Real Estate

Interesting post, DeeDee! I agree, buyers need to get pre-qualified first so they can identify the loan programs they are qualified for.

Nov 18, 2014 09:36 PM