Not getting prequalified early enough3 of 6Meeting with a lender for a buyer consultation and prequalification for a mortgage should be the first step toward homeownership. Yet many first-time homebuyers wait until they are ready to start house hunting before contacting a lender."It's never too early to set up a free buyer consultation with a lender," Adamo says. "Every buyer needs to get prequalified early enough in the process so that they can make some changes if they need to or correct errors on their credit report."Some buyers may need to spend up to a year saving more money, increasing their incomes or cleaning up their credit before making an offer on a home.A buyer consultation should include creating long-term financial goals and strategies for buying property, Adamo says. Related Articles:Homebuying tips for 2010Buying your first home3 types of mortgage loansMortgage calculator perksRelated Links:Fixing 3 FHA loan snagsLow-down-payment loans6 title insurance mustsUsing the mortgage GFE advertisement
Meeting with a lender for a buyer consultation and prequalification for a mortgage should be the first step toward homeownership. Yet many first-time homebuyers wait until they are ready to start house hunting before contacting a lender.
"It's never too early to set up a free buyer consultation with a lender," Adamo says. "Every buyer needs to get prequalified early enough in the process so that they can make some changes if they need to or correct errors on their credit report."
Some buyers may need to spend up to a year saving more money, increasing their incomes or cleaning up their credit before making an offer on a home.
A buyer consultation should include creating long-term financial goals and strategies for buying property, Adamo says.
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