Buying a home is an exciting time whether it is your first or if you have purchased several homes before. No matter how many homes you have owned, the home buying process is the same.
The first step in the home buying process is getting preapproved for a mortgage. Mortgage preapproval is different than mortgage prequalification. Mortgage preapproval means a lender has looked closely at both your income and your credit report and has determined that your qualify for a mortgage. They will be able to tell you the type programs available to you as well as the current interest rates for those programs. You can plug the numbers into your monthly budget and determine precisely the price range home to shop for.
Watch for Step 2 of the home buying process coming soon.