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How should I approach obtaining a mortgage if I am a first time home buyer

Young professional looking to purchase a home in the late July - early September time frame. How should I approach obtaining a loan? Are there ways to avoid massive lender fees? Any and all help is greatly appreciated.
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May 01 2012 - Birmingham
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Answers (2)

Great investment that you are doing.  You should contact a couple of lenders, do not run your credit, but go through the qualification questions such as your credit, income, down payment, etc . . . see who best will work with you.  Find out the fees that each lender charges.  Do they charge a loan origination fee, do they offer lender credits, do they have an incentives, etc . . . Getting a loan approval prior to finding a home is the best way to go about it. 

If you need assistance for down payment, look into Birmingham City.  See what they have to offer. 

Hope this helps
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May 01 2012
Q:  How should I approach obtaining a loan?
A: locate a loan officer ( lender ) ...( local is recommended so you can meet  with them as many times as needed to  learn about the process )...get  referrals if possible .....begin the pre approval process ( it should be free and realtively easy

Q:Are there ways to avoid massive lender fees?
A: most common way to lessen the loan origination and loan discount fees ...is to be open to taking a slightly higher rate to avoid these fees
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May 01 2012
 
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