1. Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.
2. Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.
3. Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.
4. Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.
Put together your Team of real estate professionals and shop 'til you drop!
In a nutshell, you have to have decent credit ( 620-640), a little money saved and a stable job. I'd contact your loan officer and if you don't have one I'd be happy to pre approve you and there's no cost or obligation on your part.
Thanks for the chance to earn your business.
Have a great day.
Chad E. Bahnsen- Mortgage Originator, NMLS# 127719
Mortgage Network, Inc.- Corporate NMLS# 2668
14 E. Stratford Ave Ste 3C
Lansdowne, PA 19050
Office: 610 622-2212
Licensed by the Pennsylvania Department of Banking