House
or Mortgage, What Should I Shop for First?
Deciding
on wether to shop
for a house first or a mortgage first can be somewhat of a dilemma
for a home
buyer, but not something to lose sleep over.
The
reason being, the seller
of a home will most definitely want to see a preapproval
from you. It is important to a seller, and rightly so, for them to know
that you have the financial backing to buy their house. Otherwise, they
are only wasting time that they do not have.
On
the other hand, some lenders
want to see a contract of sale before they begin the lending
process.
My
suggestion would be to get in contact with a realtor
(tm). Let them know that you are serious about purchasing
a home. The realtor will undoubtedly ask you a series of questions,
and than guide you in the right direction.
From
there, go visit your local
bank or lending institution to begin the pre-qualification
process.
Again,
wether to shop for a mortgage
or house
first is a dilemma, but not a major one, and it is only a small challenge
that should not be difficult to overcome.
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