I know home buying can seem overwhelming, especially the first time.?? But really, it's just a series of steps.
The first step is to get pre-approved for a loan. And, not a quick pre-qualification, but a full documentation pre-approval. This is definitely not the fun part, but you need to know what your budget is.? I can send you a few lenders if you want. I prefer lenders with in-house underwriting so you stay within your contract dates in escrow.? Your choice of lender is super important, and I can't stress this enough. So many over promise (never in writing though) and under deliver. Or, can't deliver at all. This could cost you your deposit, the property, and hundreds of dollars of out-of-pocket escrow expenses. Interest rates change several times daily, so this is not the important thing when shopping lenders. They're pretty much all competitive.
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Once you have that, you can start looking for homes that you know you? can buy in the area(s) you'll be looking. At this point, you'll know if you can buy a house (more maintenance, usually no HOA) or condo.
As you look at listings, you'll get to know your market(s) better too. By the? time you write your first offer, you'll be much more comfortable with pricing.
When you're ready to pull the trigger, it's time to start looking at homes.?
Your agent will guide you through escrow, and when it closes, you're a homeowner!
In the meantime though, you can start looking at listings based on a comfortable monthly payment for you. You may quality for more or less, and you don't have to spend as much as you're approved for.
Let me know if you'd like to start looking at listings. You can contact me off forum any time.
Warm Regards,
Cory La Scala, REALTOR
Independence Realty
Lic # 01443391
Source: http://www.zillow.com/advice-thread/First-time-home-buyer-where-do-I-start/498655/
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