Where do I start?

Did the chicken or the egg come first?

Do I choose a Realtor or a banker first? Its a common question and it probably doesn't make much difference. If you have a banker you use often then go to them and get your lending questions answered and know where your limits are when you go looking for a house. All too many times people don't know where to start looking and once they see those much higher priced houses with all the amenities then they don't like what they can afford. So, don't let this happen to you. Know what you can afford, be prepared for that and this will help you and your Realtor in looking for your new home.

However, if you don't have a lender you are comfortable with, no worries. Realtors always have lenders they work with and can provide you with names of people that can give you the information and assistance that you need.

Before you begin seriously looking though do be prepared to go talk with a lender or two or three. I always recommend getting some good faith estimates from a few lenders to make sure you have the best rates and programs for you. Each institution has different programs that may meet your specific needs. That being said, I want to emphasize this. If you have a lender you are comfortable with use them. They will work harder for you and give you the service you need. It is imperative that you have a good relationship with this person because you will be giving them personal information and you want to feel comfortable in this relationship.

Get your limits, get your preapproval letter. All of this makes you more negotiable. We will discuss this tomorrow. Tune in...