First-Time Homebuyer Guide
Nervous about buying a home? Our guide's got you covered!
Getting Pre-Qualified
Understanding and Getting Pre-Qualified
Once you're ready to jump into the homebuying process, the first big step is to get pre-qualified for your home loan with one or more lenders.
What does being Pre-Qualified mean?
Pre-qualification means getting qualified in advance for a home loan up to a specific price range. For example, if you are pre-qualified by a lender up to $350,000, this means that lender is willing, under certain conditions, to lend you money for a house with a purchase price up to $350,000.
Why should I get Pre-Qualified?
Pre-qualification allows you, the buyer, to act fast when looking for a home. This can mean the difference between your offer being accepted or losing your bid to another buyer.
Will this affect my credit?
Lenders pulling your credit score for pre-qualification can affect your credit score; however, if you would like to work with multiple lenders to compare rates, it is typically possible for multiple lenders to pull credit reports for your application within 14 days before it may affect your credit score.
If you still have questions about getting pre-qualified for a home purchase, give one of our expert loan officers a call at 800.223.1983 or schedule an appointment today!
Finding A Home
Once you’re pre-qualified, it’s time for the fun part—house hunting!
If you’ve got a real estate agent, they’ll guide you to find homes in your price range that match your needs. Keep your budget in mind and hold off on big purchases or new loans until you’re settled in your new home. When you find a home you love, be ready to move fast and make sure your lender has everything they need. Don’t hesitate to ask questions—lean on your loan officer and agent for their tips and advice!
First-Time Homebuyer Main Page
Nervous about buying a home? Our guide's got you covered!
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