The first step to purchasing property for most people is applying for a loan. The reason? You have to qualify for the loan and the house has to qualify for the loan that you've been approved for.
For instance: If you qualify for a USDA RD loan the house much meet loan qualifications and an appraiser is the one who determines if the house is a good fit for you and your lender. Then the appraiser determines if the value agreed on in the contract to buy is reasonable for that property.
For more answers on how mortgages work or to apply first try your bank. Your bank is a good first option, after all they all ready know you and want to keep you as a customer. If you need another choice please contact Hutch aka Robert Hutchinson CB&T https://centralbancorp.com/mortgage/our-team/team-member-page/?id=893
Comments(0)