Jon, I am thinking about purchasing my first home, what is the very first thing I should do to start the process? Mary Ann, Roswell, GAMary Ann, the first thing you should is hire a real estate agent to guide you through the home buying process. It can be very intimidating. Other than that, the very first thing you should do is contact a lender and get pre-approved not pre-qualified. There is a major difference. Pre-qualification is a process in which you disclose your financial information verbally to a lender and they will give you a preliminary approval or non-approval. Pre-approval is a process where the lender physically reviews your financial information in length to determine your approval. Pre-approval is more of a solid answer to obtaining a mortgage.
Mortgage guidelines have changed dramatically within the past year. It's very important to know your financial status and know what you can comfortably afford on a monthly bases. The last thing you want is to be is "mortgage broke"!
I have several lenders that I can refer to you in order to start your process. Stay tuned to my blog on a daily basis. Soon, I will be featuring different lenders and more home buying questions.
Good Luck
Jon
Got a real estate questions? Just ask! jon.chapman@condostore.com
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