Profile picture for user2216168

Newbies here and we need help on where to begin.

Hello,
We are a pregnant couple looking to either rent a  place or buy.  I know what to do when it comes to renting but buying is very new to us and I dont know where to begin.  I dont know how much is too much and would like some guidance in the right direction.  Thanks. 

  • March 25 2013 - Bridgeport
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Answers (9)

Congratulations on your pregnancy and decision to purchase a home.  This is a great market to buy with interest rates low and housing prices just starting to rebound in many areas.

The first place to begin if you are going to buy a home and need to finance it is to talk to a lender.  I have a list of preferred lenders in the Chicagoland area with whom I work.  You may find their contact information by clicking here [deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]

Once pre-approved for a mortgage, with a payment that is manageable and within your budget, I would be happy to start to find a home for you that would be a perfect fit for your family.

If you decide that now is not the best time for you to buy I will be happy to locate a rental property for you as well.  Contact me at anytime to talk through your housing needs further.  You may reach me at [phone number deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
  • March 26 2013
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Look for a local Exclusive Buyer's Agent.  They work 100% of the Time for Home Buyers.  They can help you find a good lender.  Best of Luck!!!
  • March 25 2013
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Profile picture for Matt Laricy
First thing is first. Get a pre approval from a bank. This will tell you what you can afford. From there, get a good agent. Its free to use their services.
  • March 25 2013
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You may want to start with a lender, so you get the answers on what you can afford.  Then having your financing ready, if you find the right home, you are ready to make an offer.  This also assures the seller you can buy.  Many times an offer by a pre-approved buyer is accepted over a buyer that has not taken the time to get a loan approval.  Happy house hunting and congratulations as well for the blessing of a new child.
  • March 25 2013
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I suggest that you first contact lenders in your area. Lenders will help you to determine how much buying power you have based on your credit and  income, as well as, other factors. Then I suggest that reach out to a few agents in your area and interview them in order to determine which one you would like to work with. Then he or she can help you to start you home hunt based upon your individual needs, wants, and situation.

Good Luck!
  • March 25 2013
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Profile picture for kerigray
I would say to meet with a local Realtor in the area that you are looking at.  Ask them for 3 lender referrals and then I would go and get pre-approved through a lender to see where you qualify and have an idea of how much money you will need to bring to closing.  The Realtor should be able to set you up a search that fits your criteria and your needs. 
  • March 25 2013
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Profile picture for AndyLinss
I would say that you should talk with a Realtor in the area(s) that you are considering, and also talk with friends for referrals to Mortgage lenders.  If you haven't already, get your finances in order and ask what documentation you will need up front because you don't want to be scrambling for it when the home is in jeopardy.

If you know people where you are moving, they may know of a good Realtor to recommend or contact a good Realtor in any area and ask them to refer a good agent in the area you are looking.  Most of us have networks of good agents that work in other areas.  If not, use resources such as Zillow to find well rated Realtors. The Realtor will also have lenders to talk with but you are free to use a lender of your choosing.

You might also seek advise from a family member or friend/collegue that has recently gone through a home purchase.  Until you find a mortgage and Realtor team that you trust, you can bounce questions off of that person.

That's all you really need to get started.  The Realtor should guide you through the process. 

Enjoy this exciting time of life!!  Feel free to ask questions.
  • March 25 2013
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Profile picture for wetdawgs
Here's a link to a collection of articles called "buyer's roadmap".  
  • March 25 2013
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Yu need to speak with a few lenders to see what you can afford. My web site has some references. They do not charge to speak with you. Then speak with a few agents to see who you might want to work with. My website gives some info on what I do for buyers, including the Rebate. Then have an agent set up a search for you based on the criteria you want. Once you see what your options might be then you can better decide if you want to buy now or just rent.
  • March 25 2013
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