Getting pre-approved for
your loan is one of the most important steps in your home
buying process. Many people rush out and make an offer on a
home only to find out latter that they can not qualify for the
loan or loan terms do not match the purchase terms.
By spending as little as
30 minutes with you FHA loan officer before you go looking at
a home, will save and immense amount of time and unwanted
At this meeting your
loan officer should be asking to see you income documentation
and should review your credit report with you. If there are
credit problems, they should explain what needs to be done to
correct the credit problems or what documentation is going to be
needed to support the misinformation on your credit report.
If you know that your
loan is going to be difficult, you should start working with
your loan officer 2-3 months before you want to move. Do not
wait until the last minute.
Once you are
pre-approved, you may go out looking for a home to purchase.
Your Loan officer would be able to provide you with a written
pre-approval letter to give to your Realtor. If you do not
have a Realtor, ask your Loan Officer for a recommendation.
They will probably know Realtors that specialize in working
with First Time Buyers. If you find a Realtor through another
source it is important that they understand FHA loans and how
they work. Ask them how many they do a year. Also, your
Realtor and Loan Officer should speak with each other
BEFORE you enter into any purchase contract.
To start the
pre-approval process, click this link:
GET PRE-APPROVED NOW