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O.k we feel like were ready to start looking for houses

N.Y.bride Posted: Dec 31, 2006 04:58 PM+

N.Y.bride MEMBER SINCE: 3/05 TOTAL POSTS : 7207 WEDDING DATE: Jul 28, 2005

Posted: Dec 31, 2006 04:58 PM

O.k we feel like were ready to start looking for houses

So step 1 is????

Get prequalified or can we start looking first?

They say your mortgage should be no more that 1/3 of your takehome?

EJSD2006 Posted: Jan 01, 2007 03:41 PM+

EJSD2006 MEMBER SINCE: 9/05 TOTAL POSTS : 5546 WEDDING DATE: Jun 23, 2006

Posted: Jan 01, 2007 03:41 PM

Re: O.k we feel like were ready to start looking for houses

get a mortgage approval first. and make sure its an approval and not a pre-qualification. try your bank first since they'll try to offer you the best rates to keep your business.

its always in your best interest to be approved before going out because:

1 - if you see a house you like you can move on it quicker (even more beneficial if you're up against other buyers who DONT have approvals)

2- any offer you make will only be taken seriously with an approval (and it most cases your offer wont even be presented without one!)

if you are unsure about neighborhoods and school districts, check www.greatschools.net. good luck! and have fun!!!

ssdbk Posted: Jan 04, 2007 11:21 PM+

ssdbk MEMBER SINCE: 1/05 TOTAL POSTS : 3958 WEDDING DATE: Nov 12, 2005

Posted: Jan 04, 2007 11:21 PM

Re: O.k we feel like were ready to start looking for houses

where are you looking?

d&D Posted: Jan 05, 2007 09:50 AM+

d&D MEMBER SINCE: 10/03 TOTAL POSTS : 233 WEDDING DATE: Oct 01, 2005

Posted: Jan 05, 2007 09:50 AM

Re: O.k we feel like were ready to start looking for houses

I am w/ you....my dh and I are starting the search as well....so exciting

and scary

cjb88 Posted: Jan 07, 2007 07:39 PM+

cjb88 MEMBER SINCE: 11/04 TOTAL POSTS : 7313 WEDDING DATE: Apr 08, 2006

Posted: Jan 07, 2007 07:39 PM

Re: O.k we feel like were ready to start looking for houses

i would also start looking on mlsli.com so you can get a feel of what is available in the different areas and the price ranges...

N.Y.bride Posted: Jan 10, 2007 09:48 PM+

N.Y.bride MEMBER SINCE: 3/05 TOTAL POSTS : 7207 WEDDING DATE: Jul 28, 2005

Posted: Jan 10, 2007 09:48 PM

Re: O.k we feel like were ready to start looking for houses

Never said thank you!

Thanks ladies!

R&J0806 Posted: Jan 15, 2007 02:39 PM+

R&J0806 MEMBER SINCE: 9/05 TOTAL POSTS : 1619 WEDDING DATE: Aug 06, 2006

Posted: Jan 15, 2007 02:39 PM

Re: O.k we feel like were ready to start looking for houses

Posted by alnem

get a mortgage approval first. and make sure its an approval and not a pre-qualification. try your bank first since they'll try to offer you the best rates to keep your business.

its always in your best interest to be approved before going out because:

1 - if you see a house you like you can move on it quicker (even more beneficial if you're up against other buyers who DONT have approvals)

2- any offer you make will only be taken seriously with an approval (and it most cases your offer wont even be presented without one!)

if you are unsure about neighborhoods and school districts, check www.greatschools.net. good luck! and have fun!!!

With all due respect, #2 is not entirely true. An offer will be taken MORE seriously with pre-approval (or pre-qual, which is better than nothing). But by law, an agent has to present all offers to the seller.

Having pre-approval is certainly appealing to a seller, but it's not absolutely mandatory.