Learn the "Correct" way to buy a home so it's not a disaster.

Learn the "Correct" way to buy a home so it's not a disaster.
Buying a home is the single biggest purchase you will ever
make. Surely you want to make sure it s a smooth process.
We are a society that likes to touch and feel. Kind of like
trying to buy a car, you want to take it for a test spin
before you buy. Unfortunately that is not the way it works
in the real estate arena. You will find that most "seasoned
real estate" professionals will not jump in there car to
show you a home until you have secured financing with at
reputable lender. With the current credit crunch and
liquidity problems with banks, you better make darn sure
you can secure financing. Even individuals with good credit
are having issues getting financing secured. Here are the
steps to follow:

Get Pre-Approved not Pre-qualified.
Getting pre-approved means you have a lender verify all
documents to support the loan approval. Most lenders will
run you loan through a automated engine. Once everything is
verified and ran through either Fannie Mae or Freddie Mac
engine you should be approved at that time.Pre-qualfied
means that someone has taken your information over the
phone and has not verified anything other than your credit
report. This type of approval does not mean jack hill of
beans.

Meet with your lender whom has approved you.
This is an important part of the process, so there is no
misunderstanding on loan terms. Make sure you understand
your payment interest rate etc...........

Find a reputable and seasoned realtor.
Finding a seasoned reputable realtor is so important; the
reason is they need to understand the current market, and
what to look out for on your behalf. A realtor's job is to
look out for your best interest. Once you have been
pre-approved, then the realtor will have a better
understand as too what type of negotiation process to start
on a home.

This process is the best way to assure your home buying
process is as smooth as possible. I am sure you hear of the
nightmares out there, typically this is because the proper
process in not followed. The end result is not good one.
Lenders are looking at your credit scores very close now.
Make sure before you start the process you pull a current
copy of your free credit score report. That way you already
have a idea where you stand.

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About the Author: Mike Clover is the owner of
http://www.creditscorequick.com/ . CreditScoreQuick.com is
the one of the most unique on-line resources for free
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software, secure credit cards, and a BlOG with a wealth of
personal credit information. The information within this
website is written by professionals that know about credit,
and what determines ones credit worthiness.