So you think you are ready to buy your FIRST home? GREAT!!!!! Let's get you pre-approved first! Here's why:
First things first, in order to completely protect you- the buyer, I need to have you sit down with a local lender, person to person and have them review your credit, income and assets. The lender will ask you to bring information with you to support the information you tell him. He will then give you an idea of what price range you should be looking at and what your cap is. That is how much home you can buy. Also he will tell you what that equates to a monthly payment, which should include your principle, interest, property taxes and estimated homeowners insurance. Then he will tell you to go find your home and then when we do find your home- you will call him back, he will give you a letter saying that you are pre-approved for that specific home. He will run the numbers again and estimate the principle, interest, taxes and homeowner's insurance. That will tell you approx. what your total monthly payment will be.
After you receive the letter, you give that letter to me and I will help you write an offer on your new home!
WHY GET PRE-APPROVED FIRST?