Before you start looking for a new home, you should consult with a mortgage professional to see how much you can afford to spend. This will help you to spend your search time more wisely when you start visiting possible homes to purchase. If this is your first time, the questions below should help you to organize your information.
What is my credit score?
If my score needs improvement, what do I need to do?
How long will it take to bring my score up?
What will my interest rate be?
Will my rate be fixed or adjustable?
Is it better to pay a higher interest rate or should I pay some points to get a lower rate?
How much money will I need for a down payment?
What will my closing costs be?
How much will the principal and interest payment be each month?
How much can I afford to spend on a home?
How long will it take to obtain a prequalification for my mortgage?