Do you want to buy a home? Where do you start? Well, the most important step is to figure out what kind of loan is available for you, how much you will need, what the cost and payment will be.
There are so many loans, VHDA, FHA, CONVENTIONAL, VA to name a few. Make sure you speak to the lender and they take the time to explain the program and the process. There is nothing more disappointing looking at homes, making an offer, getting under contract, and then the lender says they cannot get your loan done. It’s ok to talk to 2 to 3 lenders but not many more than that….too many “Inquiries or credit checks” can lower your credit scores. I’ve seen loans get done with credit scores near 580, but 620 is typically the minimum and as usually the higher your score, the better terms will be offered to you. If you can work with a local lender to meet face to face, that is the best option. This video highlights things to thing about before you go look at homes for sale.