After you have sat down with your Real Estate Agent and your Lender, you now know how much you can qualify for, if there are any blurs on your credit report that need to be taken care of. Now you need to get your Real Estate Agent to run a price range for you in the area of town you want to live in.

For Example: Say I qualify for a $ 90,000 loan, I would look in the range of $ 80,000 to $ 95,000 . A little bit above what I am Qualified for and a little bit below. Tell your agent what you are looking for and they can run off the Multiple Listing Service homes that in your price range and area you want. For Example:

• 3 to 4 bedrooms
• at least 2 full baths
• at least 1 car garage
• must be close to a bus line
• I want to use a FHA loan

If you want to you can even go into greater detail like looking for "gas heat" only or cathedral ceilings. Have the agent run a full page printout on each property and then drive by some of the properties, this way you can get a feel for some of the different neighborhoods. Next, you and your agent need to set a appointment to see some homes, First time out I would suggest 4 to 6 homes, This way your agent gets to get your personal taste down , plus they can ask you questions what you like and don’t like. When you see something you don’t like tell them, for example: I don’t like a galley kitchen, I want to be able to sit down in my kitchen and have a cup of coffee in the morning. This way the agent doesn’t show you any more homes that have a galley kitchen, doesn’t waste your time or the agents time.

Helpful Hints on Buying Your Home . . .

Pre-Qualifying

The very first thing to do is to be pre-qualified by a lender, this way you know exactly what you can buy and what price range to look in.

After you have talked to the lender do your own personal budget. You might want to spend less than what you are qualified for. Let your Realtor know what price range you want to see.

Questions to Ask a Mortgage Banker

Will this loan be sold on the secondary market or will it be placed in your portfolio? If private mortgage insurance is required, at what point will it be unnecessary so that it can be dropped?

1. Tax Deductibility of Mortgage Interest
2. Tax Deductibility of Property Taxes
3. Appreciation Potential
4. Deferred Gain and Capital Gain Treatment
5. Once in a Lifetime Exclusion
6. Principal Accumulation
7. You can enjoy it - Pride

Seek professional help in determining probable sales price and net proceeds (have a sellers net sheet fill out by your agent).

Look only at houses that meet your price criteria. Know in advance what you will require in the realm of contract terms, closing and possession dates, seller participation, inspections and repairs, and Homebuyer's Warranty.

Understand the different levels of representation affecting a Realtor's assistance. A Buyer's agent is generally your best bet.

Thoroughly research an area's market values and trends, schools, and potential zoning changes.

"Work only with a Realtor you trust. Interview the agent you have in mind and be certain he or she is the right person for you.