Question:
“My wife and I have never bought a home. What’s the first step you recommend?”
Answer:
Step #1 is getting preapproved by a good reputable lender. In this way, you’ll find out:
- The maximum price you qualify for
- The maximum price you’re comfortable with
- What your payments will be
- Any qualifying challenges you need to overcome
If step #1 is to get preapproved by a good lender, then step #0.5 is getting a referral from a Realtor (us!) to that good lender.
This is key because just like there are plenty of mediocre real estate agents, there are also plenty of mediocre lenders. You want to work with a good one!
