1. Get pre-approved! The first and most important step when buying a home is to talk with a lender and find out if you can qualify for a loan and if you can, what can you afford. This is so important. For one, you do not want to waste your time, the seller’s or realtor’s time looking at houses if you cannot even get a loan to buy. You want to have that done so you can know what you can afford, what the payments will be, and you will look more credible when making an offer if you have a pre-approval letter to go with offer. Most seller won’t even look at or consider your offer if you don’t have this anyway.
2. Use a local lender! There are many choices to get a loan but your best option should be a local lender who you can go see or get hold of quickly. There are out of town lenders and online lenders but most of those options are people working in some cubical in another state where you are just a number to them. Local lenders have more knowledge of variety of things like cost of insurance, reputable appraisers, etc. They typically have very competitive interest rates and fees too! Not to mention several local lenders will also give you their cell phone so you can reach them during times you are looking at houses, like after work and weekends!
3. Use a realtor! When buying a house, it is free to use a realtor, yes free. A large percentage of buyers don’t ever know this but it’s true. Realtors get paid by the seller 99% of the time. So it is a no-brainer to use a realtor to help you through the process of buying and since you’re using my site to read this, of course you need to use Chris Farm as your buyer’s agent! It will make your buying experience so much easier and safer when you use a realtor. You will be fully represented and protected throughout the process and you need that when making the biggest investment of your lifetime.