It's wonderful to see you are planning ahead. Most people will insist on looking for a home before knowing what they can comfortably afford and qualify to buy. There wiil be basic questions that your lender will need the answers from you before they are able to give you a preliminary qualification letter. 1) How much do you make annually; do you have any other income besides a full time job? 2) How long have you been with your current job; where were you previously employed and for how long? 3) Have you filed for bankruptcy protection in the past seven (7) years? 4) What are your current monthly obligations? Rent, Credit Cards, Auto Payments, etc. 5) Do you have money saved for a down payment; 3% to possibly 20% of the purchase price based on the loan program you decide upon? 6) Are you planning on staying in this home for five (5) years or more? If you have not spoken with a lender and are in need of a referral, I can provide you with several quality contacts. |
