As you are house hunting it is important to get pre-approved for a loan so when you find the house you like, you are in the position to put in an offer. Part of that equation is your credit report. Know what is on your credit report and make sure you correct any mistakes you find. Your credit report tells the bank your history of honoring your debts.
Another crucial part of getting a home loan, is knowing your current income and debt. There are many on-line tools and calculators available to help you determine how much you can afford. The price of the home is only part of the equation, Your downpayment, the current interest rate, whether the community has an HOA fee, taxes, your current salary and your current debt obligations all factor into your maximum monthly payment.
In a hot market, you’re looking for a lender with a reputation for closing loans quickly, and delivering on promises. I have strong relationships with a few lenders that come highly recommended. Contact me if you need a recommendation for a home loan officer.