Maybe a silly question.....

My DH and I are looking into buying our first home....we are both excited and nervous...We are going to start OFFICIALLY looking in January, but right now im on MLSLI.....

Morgage question???
If i have an idea of how much i want to spend on a house, and how much i want to put down, can you go to a bank and get a pre-approved morgage, without actually finding a house????


Thanks.....XO

Re: Maybe a silly question.....

yes u should get preapproved if u r looking around at houses bc they/real estate agents/sellers "take u more seriously"

remember the preapproval lasts i think only 6 months so make sure u r definitely going to be looking hard before u get preapproved bc the more times u get preapproved or share ur info the more ur credit score goes down

Re: Maybe a silly question.....

Re: Maybe a silly question.....

ABSOLUTELY!!!!!!

Sellers tend to prefer home buyers who are already preapproved.

Banks, credit unions, etc can help you with the preapproval. We used HSBC and we loved them. The preapproval lasted 90 days. They told us the highest amt we could afford, including telling us how much in taxes.

Good luck!

Re: Maybe a silly question.....

Posted by alnem

Posted by JenandMikey

yes u should get preapproved if u r looking around at houses bc they/real estate agents/sellers "take u more seriously"

remember the preapproval lasts i think only 6 months so make sure u r definitely going to be looking hard before u get preapproved bc the more times u get preapproved or share ur info the more ur credit score goes down

agreed on all of the above except that the preapproval is only good for 3 months.

happy hunting!

Message edited 10/23/2007 2:56:36 PM.

Re: Maybe a silly question.....

Posted by JenandMikey

Posted by alnem

Posted by JenandMikey

yes u should get preapproved if u r looking around at houses bc they/real estate agents/sellers "take u more seriously"

remember the preapproval lasts i think only 6 months so make sure u r definitely going to be looking hard before u get preapproved bc the more times u get preapproved or share ur info the more ur credit score goes down

agreed on all of the above except that the preapproval is only good for 3 months.

happy hunting!

see i knew i was iffy on that....leave it to the REA to know the right stuff

Re: Maybe a silly question.....

Thanks girls....see i would have never known!

Love having you girls to ask!!!!