Three important steps in the home buying process

Thinking of buying your first home or one that better suits you and your family? Here are three important steps in the home buying process.

1. Get your credit report and score. Don’t wait until your first visit with a mortgage lender to find out the quality of your credit.
2. Get a mortgage pre-approval. Nearly nine of 10 buyers finance their home purchase. Knowing how much home you can afford is a crucial first step before you start shopping for a home. A mortgage professional can provide you with this information before you begin your search. You’ll also find out how much cash you’ll need to have at closing. Your downpayment depends on the type of mortgage you are able to get. Some loan programs have a downpayment requirement as low as zero to 3 percent.
3. Consult a real estate professional. Seeking the advice of a real estate professional can be a great way to go when buying a home. An agent can help you navigate the home buying process and assist with financing, inspections and negotiating.