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Me and My husband are looking to buy a house, what steps should we take?

  • September 09 2013 - Claymont
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Answers (15)

I would contact a Realtor and then a Lender. The Lender will prequalify you for loan. They will also guide you on what needs to be improved if there is an issue. Good Luck!
  • August 05 2014
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@crpmllc

Gosh I hope that agent Kevin Roberts knows that you are posting promotion on Zillow using his personal information/phone number. Maybe you should reconsider or at least read the Good Neighbor Policy.
  • August 05 2014
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First, meet with a Realtor who will conduct a buyer's consultation.  During this consultation, he or she will explain the buying process and go over your needs to help you find the right home.    Then, meet with a mortgage specialist to see how much you qualify to borrow.  Good luck!
  • August 05 2014
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  • August 05 2014
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  • July 15 2014
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First off, you would need to speak with a lender to apply for a loan and prequalify. When applying for a loan, lenders like myself will need to look at several different things if you are trying to prequalify for a loan.

1) Proof of income for each person that will be on the mortgage which can be demonstrated through: one month of pay stubs, previous year's W-2 forms and tax returns, official documentation to demonstrate other forms of income (alimony, child support, etc.), and two year's tax returns if self-employed (all schedules, all pages)
2) Credit Report which they will pull
3) Employment History or Business Tax Returns if you're Self Employed
4) Personal assets such as: Recent balances and statements for bank accounts, most recent account statement demonstrating market value of any investments (stocks, bonds or certificates of deposit), documentation showing interest in retirement funds, face amount and cash value of life insurance policies, value of significant pieces of personal property, debt information, the balances and account numbers of your current loans and debts, including car loans, credit card balances and any other loans you may have.

These are just a few things you should have ready when you begin your buying process. If you have any other questions or need a loan please contact me through the information on my profile page. Also, if you found this helpful, please leave me a review on my page if you can!

I hope this helps and good luck!
  • September 10 2013
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Profile picture for wetdawgs
Here's a link to a collection of articles from Zillow called "buyer's roadmap". 

I agree with hpvanc.   Start with some study before jumping into contacting professionals.
  • September 09 2013
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Profile picture for hpvanc
Start at the library, learn everything you can about the, how to budget for a major purchase, how the transaction process works, and the potential pitfalls before you contact either a lender or an agent. Your financial future may depend on how thorough you are doing your homework on what will likely be the biggest expenditure of your life so far.

Take it slow, don't let your emotions guide you, and make every effort to make financially sound decisions.
  • September 09 2013
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Profile picture for aracz
Hi,

The first step would usually be to meet with a mortgage professional, if you will be needing financing.

Next, you would put together your list of preferences:

Here is a Starter list:
Preferences.
1. Price Range
2. Property Type (Single Family, Condo, Townhouse)
3. Area, Zip Codes, etc.
4. Minimum Number of Bedrooms
5. Minimum Number of Baths
6. Minimum Living Area Sq. Footage
7. Do you prefer a normal lot or do you require a large lot
8. Do you prefer a pool
9. Are there any other criteria that are important to you

Next, you would meet with a real estate agent to go over your preferences, match them up with the market realities, adjust if needed, and go from there.

All the best,

Arpad

  • September 09 2013
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Profile picture for Ofe Polack
Since rarely a Realtor will show you properties if you have not been pre-approved, I suggest that you contact at least two mortgage brokers and seek pre-approval.  Once you have the pre-approval and you know the price range you can afford then find a buyer agent and away you go!  Good luck! 
  • September 09 2013
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Profile picture for MountJuliet
All of the answers I read here are correct.  I'd prefer to advise you to select either a real estate broker or mortgage broker first.  Whichever doesn't matter.  I know which lenders I like to work with.  Your relationship with one can lead you to the other that is of the same caliber.  Don't try and reinvent the wheel...

My mortgage broker knows I send them potential clients and vise versa.

Bob  
  • September 09 2013
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Welcome to Buying, the "American Dream"!! It can really be a joyful experience provided you have a good loan agent and a greater Realtor!! Here are some pointers: 1) Get pre-approved not pre-qualified (major difference). 2) Work with a direct lender (banks who fund their own loans) to get the letter, they make you go through a few extra hoops but worth it in the end. 3) Know what you can afford (loan agent should guide you), vis-à-vis monthly payments! 4) Know where you want to buy? (Neighborhood/Area/Schools/Beds-Baths/square feet etc.5) Take your time do your own research, drive around in the areas you want to buy, go to open houses! Enjoy! Good Luck!
  • September 09 2013
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I have several booklets that I can email that explains everything step by step.  From working with a mortgage lender to actually finishing at the closing table.   In the middle of course looking at he homes, escrow funds and more..
Please email...my whole name at gmail...(karlawoods)
  • September 09 2013
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Step #1 - go speak to a lender or 2 and see what they can offer you.

Step #2 - find a Realtor to work with and tell them what you learned in step #1.

  • September 09 2013
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First-have you been prequalified? Are you aware of your credit profile and FICO scores? Are you a first time home buyer? How much of a down payment are you using? How much of a monthly payment are you willing to commit each and every month (including taxes, insurance and mortgage insurance if applicable)?   
  • September 09 2013
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