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How does one get started?
Your Credit Rating
Even if you're sure you have excellent credit, it's wise to double-check at the outset. Straightening out any errors or disputed items now will avoid troublesome holdups down the road when you're waiting for mortgage approval.
Pre-qualification and Pre-approval on a Mortgage
Pre-qualification includes analyzing your income, assets and present debt to estimate what you may be able to afford on a house purchase. Mortgage brokers, or a lender's own mortgage counselors can also calculate the same sort of informal estimate for you. Pre-approval means that you have in hand a lender's written commitment to put together a loan for you (subject only to the particular house you want to buy passing the lender's appraisal).
Researching Neighborhoods
When moving to another city, subscribe to the local newspaper in the new town and start reading local news and real estate sections to get a feeling for various neighborhoods - this can also be done using the Internet. For local moves, you have the advantage of driving around neighborhoods that interest you and looking for houses on sale. Visiting an open house is an excellent way to familiarize yourself with the characteristics of a particular neighborhood.
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