The time has come that you may have been looking forward to for a long time; the time for you to become a home owner! While this is a happy time, it can also be a frustrating time, especially if you don't really have a clue as to where to start. You can use this guide to get off and running in the right direction.
Speak with a lender right away: Get preapproval so you look like a serious buyer instead of someone just toying with the idea. When it comes to choosing a lender, make sure they are licensed for the area you want to buy. Also, talk to them about the different types of loans they feel would work for you. It's better if they tell you that you have some different options available to you.
Try to go with someone who seems knowledgeable and willing to help you to go after special grants to help you with some of the fees so you can get financial help. Some lenders really do go above and beyond when it comes to making sure you get into the right loan and that you pay as little out of pocket as possible; this is the lender you want.
Get yourself a real estate agent to work with: Get a real estate agent who is licensed in the area you plan on buying in. Lay it all out on the line with them. Let them get a solid idea of what you want, what you would like, what would scare you off, how much you have to go up to, but where you would prefer to stay. While they will send you listings, don't make them do all the work. You should also keep your eyes open for homes for sale yourself as well.
Try to be flexible: The more flexible you are in different areas, the easier it can be for you to get loan approval, the faster you can find that perfect house and the more enjoyable of a time you will have getting through everything. Some examples of where you can be flexible include being willing to go with a co-borrower, being open to moving a bit out from the city to open up more opportunities for special rural area loans and grants.
Being willing to forego certain amenities that make a place less appealing to many other buyers can help you walk right into a gem for a great deal. For example, if you can go without a garage, or you're in the position of moving in a family home with only a single bathroom, these things can really open you up to less competition for some nice places.
Don't be in a rush: Once you decide it's time to buy a house it can be hard to slow yourself down. However, you really do want to leave yourself plenty of cushion time so you don't end up jumping into something you regret. Buying should be done with a lot of thought and while you are allowed to move through the process at a speed you are comfortable with. Make sure you maintain steady housing during the process since it can take a while to find that perfect house and then you want to keep in mind that things can come up to prolong the process and escrow will also take a while.
