What is required to begin the "house hunting" process? I am looking to but my first home, but I am not sure where to begin.

Your Realtor and Mortgage lender will be the best place to start as they have so much knowledge to share. I like to sit down with my clients and go over all our options and what they will need to make the best decisions. The I recommend a few lenders for them to interview that will share all they need to know about financing. This is so important. I also have information to email and share with my first time home buyers as it can be over whelming. The best advice I can share with everyone is to not overspend. Just because your qualify for X amount of dollars does not mean you should purchase that amont as it is nice to be comfortable and plan for a future. There is advice Realtors can share that is from experience and not written anywhere. A great agent and lender are your best resources. Good Luck!

Whitney, I like Christine's answer however we must all be careful with the terms never and always :) On occasion there could be an arrangement where a buyers agent's fees could be paid by the buyer. However, that is not the norm with our Multiple Listing Agreements. When a broker lists a home for sale, they will be required to list the amount they will be paying a buyers agent for bringing in a ready, willing and able buyer to the successful closing of the property. The sellers agent will be charging a fee to the seller and disclosing to the seller this amount plus the amount they will be payin out as a "co-operative commision. Sorry Christine, I'm just picky about always and never :) Jim

What a great time to be a home buyer! It can be daunting to get started. It is important to have the right team. You can start with a real estate " buyer's" agent who can answer questions and recommend other professionals. Such as a lender. Your lender will tell you exactly what you need to provide to get preapproved for a mortgage. There are some general rules of thumb - credit score above 620, debt to income to support the house payment, 2 years out of bankruptcy, etc. If you are not yet in a position to qualify for a mortgage, a good lender can give you pointers to improve your credit. feel free to contact me with questions. or visit my webpage to start getting familiar with the market by searching for properties of interest. Ask around for referrals for the right buyer's agent or talk to some agents off of this forum and chose one agent to work with you on your house hunting adventure.

Morning Whitney, the first step would be to speak with a few lenders. Ask if they have any first time homebuyer grants or programs. With that info decide who you want to work with and get a Pre approval. A helpful preview might be to get a credit report and determine if there are any things you should work on first. Feel free to give me call! Danicka Brown @ Properties

A comprehensive first step consultation with a top agent and a pre-qualification by a great lender are the first steps. Then we can deal with all of the "logical" aspects of buying a home and then enjoy the emotional joy of the house selection process.

I would recommend contacting a local lender. They will be able to advise you of all the paperwork that is required. Then they will be able to let you know if you qualify for a loan. Once you have a pre-approval letter from your lender, then contact a Real Estate agent. Your real estate agent will be able to guide you through the process from there. Good Luck!

get your credit checked first and find out what payments you can afford, and then look at homes after that. contact me and I can help you with a lender, and then find you homes.

Hi Whitney, Normally I would recommend that you meet with an agent first and then have your agent recommend a mortgage lender. Sounds like most of the questions you have will be answered by a mortgage professional, I have a couple lenders I've worked with for many years, if you would like to I can send you their information. The lender will review all of your finances, credit history, employment, and determine whether you qualify for a mortgage and up to how much. The agent's role is to find you the right property and negotiate the best terms on your behalf. I would recommend interviewing 2-3 agents that work in the area that you're looking to buy in.

A good mortgage broker will guide you through the paperwork needed to get pre-approved for financing. Check out Guaranteed Rate if you dont know where to start. You'll need your last few paystubs and bank statements from any checking and savings accounts. Also gather up balance info from any retirement accounts or investments, as well as any credit cards or other loans. The mortgage broker can tell you how much you can qualify for. Then make sure it makes sense when you plug it into your budget. A good buyer's agent will help you work through all of this.

Congratulations on taking the first step towards home ownership by asking questions! Next, depending on how you intend to pay for your home, I would go to your bank or credit union and get pre-approved - so you know what you can truly afford - and finally, interview a couple of Realtors and choose the one you feel comfortable working with - there is never a fee to the buyer in a real estate transaction for our services, and we can answer any questions,send you listings, and be with you every step of the way in the process! Good Luck!

I would say the first step would be to get a pre approval letter. Call up a lender and see what you can qualify for. From there, I would then choose a good buyers agent to help you out.

Hi, your first step should be to meet with a real estate agent so they can fully explain the process to you and what to expect. Also, it's very important to have your financing in place depending on whether you are paying cash or borrowing the money to ensure you know what your budget is.