Yes by planning ahead you can definitely save money by starting now. You can speak with a mortgage broker who can get you pre-qualified, check your credit and advise you on the things you can do to be in a better position when you are ready to buy. A good broker can manage your expectations by telling you how much you can qualify for and how much house a certain monthly payment can get you. Also they can tell you whether or not to pay down debt or save more money for a larger down payment. One thing I do for my clients is look for ways to improve their credit score which will give them a lower rate. Sometimes that can be done by the clientthemselves or sometimes I recommend an inexpensive credit repair service. I have counseled some clients for more than 2 years before they are ready to buy so I absolutely believe that planning early is the best way to go.
Yes, you can go with whoever you like, but keep in mind that you will be starting the lending process all over. The new lender will have to process the file and order an appraisal. With only one month to go you could get into a time issue regarding any mortgage contingency deadlines.... more