As the end of 2017 draws near, many of us are beginning to highlight target goals for 2018. Not far behind getting back in shape and living healthier, is the idea of possibly purchasing a home. What stems is usually a conversation of regarding prospective cities, target school districts and particular styles. However, before you spend many a Sunday afternoon visiting open houses and driving around prospective neighborhoods, there is just one thing you must do first that many Buyers often put off until they've identified a particular property.
Step 1 of 1. Reach out to a lender so you can discuss how much you are pre-approved for. You don't need to have your credit checked (for those that are worried about credit inquiries) at the onset as any reputable lender should be able to give you a spectrum based on your documented income. What this will also force you to do is prepare your finances in advance, which will save you a lot of time and stress later on down the road.
No need for checklists or Top 3 lists here. If you're interested in purchasing a home in the future, connect with a lender (and perhaps also sign up for credit karma so you have an idea as to where your credit profile is). If the lender wants to run your credit, politely decline and say that you'll do so when you're closer to making an offer, but you just wanted to discuss qualifications based on your current income.
Any Realtor you happen to meet or connect with will have preferred lenders that they'd be happy to refer as the loan underwriting process can make or break any future real estate transaction.
Hope that helps!
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