Question by jennifer: how should i start with the home buying process as a first time homeowner?
I am 31 years old, have ok credit, and make @ 33,0000 per year. I would now like to buy a home but don’t know how to start the home buying process. What should i do to start the home buying process? I am also afraid that i will be turned down,if so what would i do to get approved?

Best answer:

Answer by Steve
Step one is to find a good mortgage broker and get pre-approved for a mortgage. This will tell you first, whether you can get a mortgage and second, how much mortgage you can afford.

Assuming you can get approved, next, figure out how much you can realistically afford to pay and then go online and see what type of mortgage that will get you. Don’t forget you will also have taxes and insurance to pay, so factor them in (the calculators will only give you the payments on principal and interest).

Once you have been approved and know how much you want to pay, find a real estate agent and start looking for houses in your price range. Be prepared for the real estate agent to show you houses more expensive then your price range…be firm.

Finally, research the neighborhoods available to you and see if you want to live there.

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