You wouldn't go into Target without your wallet, would you? Home buying is similar - you can't buy a home without FIRST talking to your lender! 

If you don't already have one, ask your agent. If you don't have an agent, get one ;) and ask family & friends who they have used and what their experiences were. Similar to finding a realtor or agent, you want to trust your lender. After all, you're not only sharing your SSN with them but they're there to help you in potentially one of the largest financial transactions of your life. 

In this episode:

If you're thinking about buying a house, whether in 3 months or 15 months, start planning NOW by asking these 3 questions: 

1. Am I ready for a mortgage payment?
   • Are you planning to stay in the area for 2+ years?
   • Do you want to start building equity?
   • Do you have steady income and a savings?
   • Is your credit score in check?
   • ^ if your answer is yes to these, it might just be time to start your home search!
2. What does a lender need from me?
   • • For your pre-approval letter, lenders typically need your ID, SSN, 2 years of tax returns, W9's and/or 1099's and your debts (student loans, credit cards, car loans etc.)
     • Once you get an offer accepted they will officially start the mortgage application process which may ask for more information depending on your financial and job situation
3. How much can I afford?
   • • • Your lender will take all of the information you give them to determine what the bank would be willing to loan you
       • Keep in mind, just because you're approved for $XXX does not necessarily mean you should go out spending that
       • Ask your lender for an estimated breakdown of the monthly payments, factor that in with your lifestyle and THEN see where you fall in terms of affording a home

These are just questions to get you started! Remember, there are tons of different loan programs, downpayment assistant programs etc. out there to help you become a home owner. Work with your realtor and lender to find what is best suited for your needs, financial situation and goals.

Interested in a FREE copy of my lender questionnaire? Shoot me a message on IG or email me at GDemac@CollinsDemacRE.com and I will send it over to you! 

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Interested in any of my FREE real estate guides? Looking to Connect? Have some topics you'd like to hear on this podcast? Feel free to reach out with any comments, questions or topics you want to hear more of! 

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