First Call

Your first call should be to your mother when you are thinking of buying a house, after all, Moms know best. If you don’t have a mother, feel free to use an uncle or a friend. I guarantee they will have had experience or a story from a friend they can inform you of all the details when buying house.

Kidding! Although your friends and family will be quick to give advice – some of it very helpful, you want to start by calling a real estate agent that you trust. Maybe they have been referred to you by someone you know or they have proved themselves to be an expert on the process of home buying and the area you are looking to move. Good agents will be ready to walk you through every step of the way, including what to do, where to look, how to see, and how much you can afford.

Get Prequalified

Sometimes before an agent, you will talk to a mortgage broker or bank to get an idea of what you can afford and will qualify for. If it isn’t your first call, most likely it will be the first one your real estate agent will suggest you make. Many things are taken into consideration for your financial qualifications in purchasing a home. To get prequalified, it is a free interview, and plan to spend about 20 minutes on the phone sharing your income, debts, assets, liabilties, social security numbers, etc. The broker will help you determine how much you can afford based on your budget and your loan to debt ratios.