Zillow Advice: Buying Process - im looking to buy a home and not sure where to start or what me credit sore is where should i start http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ Zillow Advice | Zillow Real Estate Great question and you got ... http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ Great question and you got some great answers.&nbsp; <br/><br/>The only thing I would add aside from contactin a lender and finding a great Realtor would be to start dreaming and take your time.&nbsp; <br/><br/>Everyone has an idea of their perfect home and once you find out how much you are qualified for you will know where to start looking and dreaming.&nbsp; Find out what you can't live without in a home and allow that to help focus your search.&nbsp;<br/><br/>Take your time in the search and don't settle.&nbsp; Zillow is a great source to start your search and has some great homes.&nbsp; Once you've narrowed it down, contact a Realtor to go see them and they'll take care of the rest.&nbsp; <br/><br/>Good luck! Wed, 15 Dec 2010 17:59:00 GMT http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ 2010-12-15T17:59:00Z The best way to start is ... http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ The best way to start is getting in contact with a&nbsp;&nbsp;lender&nbsp;who can see if you can be pre-qualified prior to looking for a new home. They can run your credit and direct you in the direction you need to go at that point. If you hhave&nbsp;real estate agent in your&nbsp;area that you have worked with&nbsp;he or she would also be able&nbsp;to guide you.&nbsp;&nbsp; Tue, 26 Oct 2010 22:56:00 GMT http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ 2010-10-26T22:56:00Z I would agree that speaking ... http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ I would agree that speaking with a lender is a good place to start, however I will also add that you should interview some local agents who you plan to work with and ask them for recommendations on who to work with as a lender. Remember, agents have working relationships with lenders and can help guide you to the ones that will make the process easy. Tue, 26 Oct 2010 22:48:00 GMT http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ 2010-10-26T22:48:00Z Start by getting a few quotes ... http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ <p>Start by getting a few quotes from local banks. They will have to do a credit pull and will gather some personal information from you. They then should be able to go over information regarding your ability to purchase a home. Make sure you know what you qualify for, What payment amounts would be at that price range or if you perfer to stay under your qualified amount what a payment would be at the lower amount till you feel comfortable with the proposed payment, what your closing cost are approx.(ask if you are paying any points for the rate they are quoting you). Once you have gathered the information find a Realtor and discuss with them what you are searching for in a home. The Realtor should explain the process to you and give you information that can answer any questions you may have.<br/><br/><br/>Robert Baker<br/>Metro First Realty<br/>Oklahoma Realtor</p> Tue, 26 Oct 2010 21:17:00 GMT http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ 2010-10-26T21:17:00Z Below is an assortment of ... http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ Below is an assortment of blogs that should help you.&nbsp;<br/><br/>This covers the basics of buying a house. Right now a fico score of 620 seems to be the minimum most lenders will accept. To find out your fico score ask a lender (bank, mortgage person etc.) near you. They may charge a small amount and then you will know what your score is.<br/><a href="http://www.trulia.com/blog/dan_chase/2010/01/its_your_first_home_and_you_are_looking_for_something_but_not_sure_where_to_start_to_look_or_get_loans" rel="nofollow">"Its your first home and you are looking for something but are not sure where to start to look or about loans."</a><br/><br/>This covers a lot of problems that can arise when buying a house. Asking some of these things can save you from a lot of problems.<br/><a href="http://www.trulia.com/blog/dan_chase/2009/11/questions_i_would_ask_when_purchasing_any_property" rel="nofollow">"Questions I would ask when purchasing any property."</a><br/><br/>The next 2 blogs are worth reading. This one shows you how to use your numbers to see which makes the most economic sense be it renting or buying. If it turns out renting is every few months figure it out again. Things do change with time.<br/><a href="http://www.trulia.com/blog/dan_chase/2010/01/does_it_make_more_sense_to_buy_or_to_rent_look_at_the_numbers_and_decide_for_yourself" rel="nofollow">"Does it make more sense to buy, or to rent? Here is the way to find out for sure."</a><br/><br/>This blog is very different. It shows some reasons why renting can be the best choice to make even if buying appears to be cheaper. This is worth considering even if you want to buy anyway. This is very unlike what you will hear from most.<br/><a href="http://www.trulia.com/blog/dan_chase/2010/02/why_rent_if_you_could_buy_for_less_money_valid_reasons_inside" rel="nofollow">"Why rent if you could buy for less money? Valid reasons inside."</a><br/><br/>If those were helpful look at my profile (place mouse over my name and click) several other blogs are there that could also be helpful for you. Tue, 26 Oct 2010 02:14:00 GMT http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ 2010-10-26T02:14:00Z I always tell my&nbsp;friends ... http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ I always tell my&nbsp;friends you need to get 3&nbsp;quotes&nbsp;from 3 different banks/institutions.&nbsp;&nbsp;"Pre-Qualified" as we call it in the biz.<br/><br/>1) Talk to your Bank<br/><br/>2) Talk to another Local Bank<br/><br/>3) Talk to a National Bank(Chase,BOA,WellsFargo,ect...)<br/><br/>After you get your approval, then you know the&nbsp;amount&nbsp;of money a bank is willing to loan you. That will give you a starting point.<br/><br/>You then start a wish list of all the things you want in a home. Hopefully the dollar amount your&nbsp;qualified&nbsp;for will allow you to find almost everything your looking for in a property.&nbsp;<br/><br/><br/><br/> Tue, 26 Oct 2010 01:53:00 GMT http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ 2010-10-26T01:53:00Z Checking your credit is something ... http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ Checking your credit is something you should do each year, and you can ppull a free credit report (not your scores though) via <a href="http://www.annualcreditreport.com/" rel="nofollow">www.annualcreditreport.com</a> online. This will help you identify if there is anything erroneous on your report which might affect your score. You can also purchase your scores from the 3 major reporting agencies on this site, it costs roughly $45 total or less. <br/>Once you have a feel for your credit score then you'll start looking into affordability. FHA requires around a 640 FICO score right now for 3.5% down payment programs. You can also play with mortgage calculators here or&nbsp;at sites like <a href="http://www.bankrate.com/" rel="nofollow">www.bankrate.com</a> to figure out what you can afford.<br/>Then you should consider taking a 1st time home buyer's class so you can learn about the purchasing process for your state.&nbsp; If none are available, you can contact a local REALTOR to begin learning about the local market and the purchase process. There are plenty of agents that work with buyers specifically and a good designation to look for in an agent is the ABR - Accredited Buyer's Representative.<br/>Good luck and I hope it works out for you!<br/><br/>Reba Haas<br/>Team Reba of RE/MAX Metro Realty<br/>Seattle, WA Tue, 26 Oct 2010 01:32:00 GMT http://www.zillow.com/advice-thread/im-looking-to-buy-a-home-and-not-sure-where-to-start-or-what-me-credit-sore-is-where-should-i-start/372652/ 2010-10-26T01:32:00Z