1) Definitely get pre-qualified.
2) Decide where you want to be living in 5 years, 10 years, etc. Will it be the same house?
3) Have a workable realistic budget, just because you can qualify for "X" dollars, does not always mean you should buy a house at that amount. Look at your lifestyle your hobbies and extra expenses. Do not add stress your life by maxing out your income to expenses ratio.
4) Find a Realtor that will help you find the right house at the right price, and can provide you with updated information as it is released.
and 5) enjoy the hunt.
If you have any question about how I can get help you find your future home, contact me.
Here is a list of the documents you need to gather for processing a loan approval, DU Approval or pre-approval letter to get out shopping for a home of your choice. http://tinyurl.com/9m2rsb2
You may qualify with a minimum 580 fico score for FHA 3.5% or as low as half percent down payment program. You can buy with minimum out of pocket expenses. It depends on your fico scores, debt to income ratios and how much you want to invest into the down payment and closing costs. If you have a minimum 700 fico score, you may qualify for 3% down conventional or minimum 620 fico score may qualify for 5% down conventional with NO Mortgage insurance (Lender paid MI).
Once I receive copies of the documents on the needs list and ask a few dozen questions, I can issue a pre-approval letter to you to get out shopping for a home of your choice. I can refer an agent to you if you don't have one. Here are some links to study and consider that I offer.
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
9am till 9pm 7 days