Third Tip: Get a PreApproval

Once you start looking for a home and check your credit score you should seek pre-approval from a lender for a home loan. Pre-approvals allows the lender to analyze some of a borrower’s credit profile information to determine if they meet specified lender characteristics. This is where you meet with a loan officer, ideally a few at various mortgage companies.  

The loan officer will look over your financial backgrounds very closely and use this info to determine whether to loan you money and what size monthly payment you can afford. The information that the loan officer will give you can help you target which homes can be your price range. This could help you figure out the location of your home and how to budget yourself.

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