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Andrea · 07-12-2011, 09:40 AM

I was in the mortgage business for 20 years (out the last five) and recommend everyone be pre-qualified by a mortgage company as a first step. Ask friends and family who they went through to select a loan officer.

Credit is tight and it isn't as easy to get a mortgage loan as it was even three years ago. A conventional loan is always the best way to go if you have the money to put down, and a good employment and credit history. FHA and VA are wonderful loans if you have an issue in one of the three areas mentioned, but will cost you more in the long run.

Stick with your basic 30 year fixed rate loan and you will not have to worry about rates adjusting up. DO NOT go with any creative financing.

Your loan officer should also be able to help you find any financial assistance programs available in your area.

Once you know what you qualify for and have that pre-approval letter in hand, go house hunting. A pre-approved buyer has a much stronger chance of a contract offer being accepted and the processing time for the purchase will be considerably less with that portion already done.

07-12-2011, 09:40 AM	#5
Andrea Senior Member How Do You Identify?: Mature Femme Preferred Pronoun?: Her/She Relationship Status: I heart Rene Join Date: Dec 2009 Location: California Posts: 3,755 My Photo Gallery Thanks: 15,427 Thanked 14,939 Times in 3,022 Posts Rep Power: 21474850	I was in the mortgage business for 20 years (out the last five) and recommend everyone be pre-qualified by a mortgage company as a first step. Ask friends and family who they went through to select a loan officer. Credit is tight and it isn't as easy to get a mortgage loan as it was even three years ago. A conventional loan is always the best way to go if you have the money to put down, and a good employment and credit history. FHA and VA are wonderful loans if you have an issue in one of the three areas mentioned, but will cost you more in the long run. Stick with your basic 30 year fixed rate loan and you will not have to worry about rates adjusting up. DO NOT go with any creative financing. Your loan officer should also be able to help you find any financial assistance programs available in your area. Once you know what you qualify for and have that pre-approval letter in hand, go house hunting. A pre-approved buyer has a much stronger chance of a contract offer being accepted and the processing time for the purchase will be considerably less with that portion already done. __________________ I am very spoiled! What we think about and thank about, we bring about! Today I will treat my body with love and respect.