Real Estate Life

Saturday, February 18, 2006

Finding the house you'll call home

Here are a few suggestions you may consider.

How to find the house you will call your home.

The first thing anyone should do before they begin the ever exciting, and challenging house hunting tour is to talk with a lender and get pre-approved.

Know the difference between a pre-approval and a pre-qualification.

Pre-approval- is given after the loan officer has had a chance to review your financial position, this review will determine the amount of money the lender is willing to let you borrow.

Pre-qualification- is given (typically) by the loan officer over the phone without reviewing all of your financial. This qualification doesn't guarantee how much you truly can borrow and doesn't mean the lender will actually lend you money.

I will continue this later. If you have any questions feel free to ask.

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