... have you checked your credit reports with all three agencies and straigtened out out all outstanding issues ? Perfect, that means you are ready to move along in the process and take the second most important step -to get pre qualified-. What does it mean to get pre qualified? Well, in simple terms, find yourself a lender (bank, credit union, etc. ...) That would help you finance the home of your dreams. Before you do so, make sure to do your due dilligence, there is nothing wrong with shopping around and at the end of the day you want to make sure that you make a solid business decision. Finding the right lender can speed up the closing process once you get into the closing stage of purchasing the home, going with the wrong lender can open a biiiiig can of worms and your transaction might be in jeopardy. As much as we like to see the pretty online ads that promise us low closing costs or "no fees" at all, don't discount the relationships you have built with lending institutions over years and years of banking with them. Sometimes it is better and safer to choose a lender you know, someone that is only an arms length away when you have to go through the lending process, someone that can answer questions when they come up, someone you trust. Now, as I said, your local lenders will most likely match quotes you get from an online institution and you have about two weeks to shop around without damaging credit when applying with different lenders. With that said try the following links to get a good idea of current mortgage rates and offers you are eligible for and then make your move and pick the lender of your choice.
Mortgage Rates:
Get Pre Qualified:
http://www.eloan.com/
Tomorrow we'll talk about the different loan types that are currently available and how why they might suit your needs.
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