It’s a good idea to get pre-approved for your first home loan. The bank will give you a pre-approval letter. This is an estimate of the loan amount you can afford and a sample of the loan programs you may qualify for.
Be prepared for this experience. The lender or loan officer will “scrub” your credit. They’ll review your credit with you in every detail and ask questions about accounts, payments, negatives, late payments, etc. It’s a good idea to have reviewed it on your own before this “scrub”. Get a free copy of your credit report at www.CreditSkyRocket.com. Be certain all the information in the report is valid and be ready to explain any item in it. If you find errors and your credit needs repair, see our resources at www.CreditSkyRocket.com.
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