he -preapproved?

DH and I want to seriously start looking. Can you tell me what the first step should be? Do i stop in to a bank and get an application for pre'approval before going to a realtor? thanks

Re: he -preapproved?

Get Pre qualified first - It is free - Try to use a well known place, not one of the small mortgage guys. Also you dont have to use the person that pre quals you for when you are ready to get a mortgage.

You can start going to open houses to learn. Ask questions. Take notes of each house after, because you will forget after a while of what you saw in each house.

Figure out what amenities you are looking for in the house you are going to buy. Look into the things that matter like school district, and towns etc....

Do you want a handyman or a finished house......

Open houses are fun.....

Good Luck,
Scott

Re: he -preapproved?

Definitely get pre approved first..
sellers are more likely to take u seriously if you are already pre approved.. they also may take your offer before someone else who is not pre approved.

good luck

search online- go to as many open houses as you can on the weekends.. they are so much fun, and it will help you to determine what type of home you like!

Re: he -preapproved?

Def. get pre-approved!! We're using HSBC and our mortgage guy has been phenomenal!!!!! He works from many different branches, and works outside bank hours at your home to help you get everything you need, and to answer all your questions.

And then do what the rest of the girls suggested.

Re: he -preapproved?

thanks, i can prob go to my bank Citibank and get prequalified - right? do i need to be prequalifed in order to make appts. with realtors to see homes we are interested in. we have gone to a couple of open houses and they are fun. thanks.

Re: he -preapproved?

Re: he -preapproved?

There is a difference between Pre-Qualification, Pre-Approval

What you want is a pre-approval for a mortgage before you shop for a home.

Pre-qualification does not typically include pulling your credit report or verifying financials.

Pre-approval for a mortgage means a mortgage broker/bank has pulled your credit report and has income verification (W2's & paystubs) and determined that you qualify for a certain loan amount.