Steps to take when you’re ready to start looking for a house

To begin with, you’ll need to gather your personal information. At the very least, you will need payroll stubs for two to three months, copies of your bank statements, and information about your debts. If you are self-employed, be prepared to turn over copies of your federal and state tax returns for at least three years prior.

Real Estate contract Thus armed, make appointments to talk to several lenders about your options. You should talk to the mortgage officer at the local branch where you bank, since most banks like to keep their customers happy. You should also consider talking to a mortgage broker, who will ferret out all the loans for which you qualify and help you decide which best fits your situation.

Now you’ll need to get pre-approved for a home real estate loan. This is important for two reasons: First, it will tell you exactly how much house you can afford. The lender will tell you, in writing if you so request, just how much money the institution is prepared to loan you. That amount plus the amount of your cash reserves will determine how much you can spend on a house. Second, nothing motivates a seller to accept your offer like knowing that the buyer is already qualified for a loan. Getting pre-approved will give both you and the person who ends up selling you his/her house peace of mind right out of the gate.

Cabin Next, find a realtor you trust. The best way to find a good realtor is by getting referrals from people whose opinions you value. Get several recommendations, winnow them down to a few possibilities, and then make appointments with each realtor and interview him/her for the job. It is critically important that you be honest with the realtor about what you have to have in a house and about how much house you can afford.

If they invest a lot of time in helping you, most realtors will ask you to guarantee you will work with them exclusively, so it’s important to find a realtor you can depend on for the long haul. You may end up buying the first house you look at, or you may look at dozens before you find the best one, but it’s better to anticipate that the process will take some time. Taking your time at the beginning will improve the odds that you’ll pick a realtor whose style and substance complements your own.