Steps to Buying Your First Home
When I work with a first time home buyer, the question I get asked the most is, “Where do I start?” The answer is simple. Get preapproved for a home loan. Talk to a lender and find out how much you can afford to buy. Whether it is a conventional loan or an FHA loan makes no difference.
I read an article recently about selecting a real estate broker to work with. There was a quote from a broker concerning objectivity. Their point was that a buyer would fall in love with some charming front porch and they would be the “little angel” at the buyer’s elbow saying, “Can you borrow that much?” Why, oh, why were those buyers not preapproved before they were shown that home? There is nothing more heartbreaking in this business than having a buyer fall in love with a home, just to find out they cannot afford it.
So please, avoid that heartbreak and get preapproved before you begin looking at any homes.