Planning

[SomewhereIn505]

Need some recommendations.

Going to be receiving an inheritance sometime in the next few months and I want to ensure it’s not wasted away. Thinking it would be good for us to finally get a house and we would be considered first time buyers. I’m trying to begin to get our ducks in a row and research.

1. What was the best thing you could of done/did to relieve stress of this process?

2. What is th best way to find a loan officer whom is going to work with your particular situation? Start calling around town?

3. Did you get prequal, preapproved first before going out and looking?

This is all very scary for me (yeah potential first time owner). I’ve got issues which I’m trying to stay clear of FHA. 

[kc0039]

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wrote:

Need some recommendations.

Going to be receiving an inheritance sometime in the next few months and I want to ensure it’s not wasted away. Thinking it would be good for us to finally get a house and we would be considered first time buyers. I’m trying to begin to get our ducks in a row and research.

1. What was the best thing you could of done/did to relieve stress of this process?

2. What is th best way to find a loan officer whom is going to work with your particular situation? Start calling around town?

3. Did you get prequal, preapproved first before going out and looking?

This is all very scary for me (yeah potential first time owner). I’ve got issues which I’m trying to stay clear of FHA. 

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1. Have all the initial paperwork ready.

2. Recommendations, call around town, look at reviews

3. You should so you know what price range to stay in. What issues do you have to stay clear of FHA.

[JVille]

Lender recommendations from your Realtor or Friends are two places to start. Do you have friends who have bought a home recently. Get them to share their experience with you. A great Realtor would never recommend a Lender who was going to run off clients or kill transactions.

Just sitting down with a Loan Officer at your local Credit Union and have them walk you thru the process and do a Pre Qual with you to go over how your personal situation looks and what it means to your ability to purchase.

When visiting with a lender (in person is best) be sure and take tax records, 2 yrs W2 and most recent 30 days of Paystubs. I do not like Internet Lenders because sitting down and discussing ALL your options and the Lending Process is just a better education when done in person.

[JVille]

Agree with the question, why the FHA concern? For most 1st time buyers FHA is the only way to get a home. What is your concern?