Ist time home buyer?

[thorice]

I have never bought a house but I see one that I like. My credit is 721 EX 619 EQ and 687 TU. So what's the first step I need to take. Thanks in advance for any help.

Message Edited by thorice on 10-10-2007 06:57 PM

[ShanetheMortgageMan]

You should speak to a lender or broker regarding if you can qualify for this particular home.  You should be prepared with knowing your income (salary, hourly, and if you make overtime/commissions what those are for YTD in 07, 06 & 05), what is on your credit report (including any negatives and minimum payment amounts), what you would be able to verify in reserves (savings, checking, 401k, IRA, stocks, etc.) and how much of a down payment you want to put down, if any, and what the asking price is of the home you are interested in.  I find the best sources for a broker or lender you can trust is to get recommendations from family, friends, or co-workers who have purchased a home before.

If you'd like to lay out your specific details here you can get specific advice on what your chances are of getting a mortgage loan.  Your scores are pretty decent, so there is definitely hope.

OneMortgageGuy also posted a very helpful thread at the top of this sub-section, you can access it by clicking: http://ficoforums.myfico.com/fico/board/message?board.id=loans&thread.id=1739 or just back out of this post and look at the top threads.

Message Edited by ShanetheMortgageMan on 10-08-2007 04:11 PM