My wife and l have already kind of already picked he house but l do not know who we need to talk too... Either the mortgage broker or a real estate agent?Please help!

Call the listing agent for the house. Keep in mind that they are primarily representing the sellers and not you. However they would like to sell to you since you have no agent and they could make more commission. That agent will show you the house and can direct you to financing as well as filling out an offer. Good Luck.

You need to get your own real estate agent..called a buyers agent. This person will take you through all the steps and cut through any red tape that develops.

l would talk with the real estate agent first,

u need to get with ur bank so u can find out how much u can get approved for, then contact the seller.you r going to need to be prepared to pay for the home inspection, potential closing costs, earnest money (money u lose if u back out the deal..that will go to the seller), etc. When l purchased my home l used remax & my agent was so-so. Thank God l had my parents..make sure u get everything in writing & u stand firm to what u want. If u like the draps, ask for them, appliances...put it in writing, etc.

u r doing this backwards. ur best bet is to not even look at any homes until u have ur mortgage approved.especially in this day & age. if u find the home first, u will just be getting ur hopes up for what could amount to nothing. what good is a great home if u can not get approved for financing for it, after all?

you need to talk to some lenders. if u have bad credit & do not have money to put down (3 percent for FHA), than forget it right now. assuming that u do have these things, shop around for the best rates. once u target ur lender, u need to get preapproved for the range of homes that you're looking for. if the asking price of the home is 300k, & u get approved for 280k, do not assume that the seller will lower their price out of desperation. it might not happen that way & u do not want to waste yours or the realtors time.

You should talk with several lenders first. You not only need to know if u can afford this house u like, but there r different programs each lender has that may impact ur buying decision. l always tell my clients to talk with Realtors at open houses. You will quickly begin to recognize the ones who really know the area & ones who don't. Or u could ask family & friends for a recommendation. Sometimes, it is just someone u feel comfortable with. It is not like u will become best bud is but u need to trust this person & his/her abilities to help u through a complex transaction smoothly. Best of luck & thank u for being in the market to buy a home!

If you have picked the house, go there and talk to whoever lives there.You can also find one through advertisements in the local newspaper.

Start with the mortgage broker, there is no point in looking at a house if you can not buy it. Find out how much you can borrow and you will know which homes to look at.

Mortgage broker first. Make sure u get pre-approved so u know what u can afford before u start looking at houses. Keep in mind if they say you're ''qualified'' for 200K that generally means u can afford it, but barely. Make sure ur monthly payment is no more than 30% of ur monthly income or u will have to majorly cut back expenses in other areas.

Once u get approval, then look for houses. If u do not know much, it is best to get ur own agent to search for a home for you. You can interview several realtors before deciding on one ( l would recommend this as 75% of realtors r sleazy). Your agent should respect ur budget, the location u want, the beds & baths- & they will have access to insider information to give u & schedule appointments to tour the homes for sale. They take most of the guesswork out of it, u just have to meet them to tour the homes.

Also, make sure u have 10-20% down payment saved up before even starting to look. Getting financing is tough these days & without a down payment is even tougher.

First thing u should do is get pre-approved from ur mortgage broker. l do not mean pre-qualified as in just a letter from the mortgage broker branch manger - l mean pre-approved as in a full credit approval from the underwriter.

This can help in many ways. First, this can be a big plus in contract negotiations. Your seller is more apt to take a lower price if they know u r officially qualified to buy the house & have already gone through the underwriting process. Once u r credit approved, the only thing that will be needed in an appraisal on the property & then settlement.

In addition to the seller taking a lower price, getting pre-approved gives u peace of mind too. You will know exactly how much house u r qualified to buy & what ur payments will be.

In order to get pre-approved, u will need pay stubs, w2 forms & bank statements for the most recent 60 day period. If either u or ur wife r self employed, u will also need income tax papers for both business & personal for the past 2 years.

After u r pre-approved is when l would contact a realtor. Most people contact the realtor first, but it is a fact that u have more negotiating power if u r pre-approved.

Good Luck & Happy Home-Hunting!

My dad once told me ( its funny but true)
Find a house u like.
Write a check everytime someone asks u for one.
Thats all there is to it !

The most important thing is getting an AMORTIZATION SCHEDULE at the closing.

You have to pay one Interest pmt & one Principal payment per month.
However, u can pay as many add'l principal payments per month, as u wish.

In the beginning, u can pay off a couple years of payments..just by adding an add'l small amt to ur pmt.

Those first few years:
Say $500 monthly pmt.

499 Interest & 1.00 goes against principal
498 -----------------2.00
497 -----------------3.00

You think this is going to take forever to pay off 100,000 at 2.00 per month coming off the balance .

Why pay this large interest amount when u can swoop up several months of tiny principle payments while only paying one month of large interest money.

YOU DO have to still pay monthly, but u can get deep into year 10 very fast, & w/ little add'l money per month.
NO ONE WILL TELL YOU THIS SECRET.
Certainly not the bank. They want all the interest money

Hi,we went to a mortgage adviser.He advised us to get a guaranteed
mortgage we followed his advice & got one that put us in the driving seat.We did not have any ties like a house to sell.We ended up getting our property for £10,000 below the asking price.
Good Luck

Yu need tu find a reelter. Yu need help. Best if sumwon yuno rekmend sumwon. If not, theer is alwaes the yello paejes.

It really does not matter who u talk to first. You can start ur search as u start ur qualification process. You should have rough idea what u want to spend. Like Cindy W said u will get pre approved, not pre qualified.

In most cases what ever real estate agent shows u a home will be entitled to the commission. l would recommend talking with a few agents & pick one u like. In many states u can have the listing agent represent u as the buyer’s agent, not sure if l agree with that. Some will say go this way & have them give u some of the commission, but that money is nothing compared to what u could save or loose buy having the right or wrong type of representation.

Be careful u understand what representation means. You want a buyer’s agent representing you, not an agent that represents someone else. In my state, maybe others, the seller can require that u use only an agent represent them, at that point, if u use an agent representing ur self u will have to pay the commission. You should be advised of this before u sign anything. Again, l do not agree with this.

If u feel ur agent is not taking care of u stop using them but remember to let u knew agent know what homes the other agent has shown u if u want to look at them again. Usually we work this out by paying the other agent a referral few. This wo not affect u but will make it easier in the long run. The original agent can be seen as causing the sale & is than owed the commission.

Your agent wo not be the one qualifying u so u do not have to share financial info with them that u do not want to but u need to let them know u budget.

Even if the bank qualifies u for more than u want to spend go with YOUR BUDGET. Let ur agent know ur budget, if he/she tries to push u out of it or sell u properties u have told him u r not interested in be firm, if the agent pushes u STOP using them.

ADD: l have always found better deals using a bank as opposed to a Mortgage broker. From my experience banks r easier to work with & will negotiate more.

Difference between a Mortgage Broker & a Real Estate Agent/ Real Estate Broker.

First u need to know the difference..
Mortgage Broker- A person or company who find funding for you. They run ur credit one time & submit it to a ton of lenders to see who can get u the best deal. What is the loan amount approval, down payment required, Interest rate, tradelines required, what proof do u need to have, etc.
Or u other option will be going to ur bank to see what they can give you. They will run ur credit once, it will only benefit that bank & normally u bank will give u the best offer.

Real estate broker/ Real estate agent. They will negogiate for you. They work in finding u the right house & they work for u in making sure u r taking care of in every aspect. There is a selling agent & a buyer agent. Check u state for real estate laws but, most agents can make up to 6% per sale. When they r both a buyers agent & a sellers agent, each agent makes up to 3%. Who pays for the real estate agent, in most cases the seller. But, make sure u discuss those terms if u feel like u need an agent.

If u chose to get a real estate agent, u can ask the sellers agent to be ur agent, but it puts them in a sticky situation & if the agent is very honest & trustworthy, it not a smart thing to do. You can just call up a real estate company & say hey l am a buyer & l need an agent. l would look at their track record. How many homes have they sold? How many succesfull clients? Check their attitude & character. You do not want to be fooling with an agent that is too pushy. But, a stern one is a good one. Someone that is not going to take no for an answer to easily.

If u chose to go with a MORTGAGE Broker. They will charge u points. So, ask how many points they r going to make. Most cases they can charge up to 6, again check ur state. It varies from state to state. If they can charge 6 points, that is like 6% of the sales price. Who pays for that, YOU DO. That is how mortgage brokers & independent loan officer make their money.

You need to find how which route u r going to take in obtaining funding. Then get ur approval amount. Then u can make sure that the house u r eyeing is affordable. Call up the agent, tell them u want to see the house. In the process of buying the house, u r going to get numerous inspections that r required in a real estate sell. Such as house inspection, termite inspection, a survey may be required by ur lender, in most cases the buyer foot the bill for that, etc.

When u have funding, make sure u get the approval in writing.

When u r ready, submit an offer to seller. (on a contract) - ur real estate agent will do this if u have one. If not, ur local title company can probably give u a blank real estate contract to use & u can just fill in the blanks.


You will give it to a title company with earnest money- Then after the offer is accepted, the inspection process will take place. Along with the title being examined by a title company..

Then if everything goes well, u r off to closing.

It is helpful to get a real estate agent. This is a very stressful process! If u do not know what u r doing, get help. Get a real estate agent & they will guid u through the process.

Because u do not seem to know anything u need to understand all the trials & challenges of home ownership.

First u do not know how much debt u qualify for. You need to look into financing first. Finding a house first & then beginning the hunt for funding will be exasperating for u & as a seller l would not accept an offer - & take my house off the market - for someone who had not even talked to a bank.

The best thing u can do is deal with a Buyer Agent, whose job it is to look out for ur interests.

An added thought is to look at ''how much house'' u qualify for & then look at ones that cost less. Do not overextend ur budget. You never know when illness or layoffs r around the corner. Keep a full six months living expenses in an emergency fund that is NEVER touched.