Asked by Diana Roberts  |  Submitted November 25, 2015

What do I do to get a loan for buying a home for the first time?

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  Answers  |  2

November 26, 2015

First of all, you and your partner need to sit down with a financial expert, who must see how much debt you have. Debt is very important for loan companies to assess whether you can pay off your future home loan. They look at your historical debts to see that you don't have late fees. Then, you must decide how big a house you really want - 2 or 3 or 4 bedrooms and how many bathrooms? How much are you willing to invest in this house?

There are many things you need to consider before you go out and look for loans. To get a house you need to be pre-approved for a loan. To get a loan you need to plan your finances.

A qualified Financial Expert should therefore know you and be willing to customize a plan for your needs. He or she needs to have the patience to explain everything to you. Remember - buying a house is a 30-year commitment for you and your family.

$commenter.renderDisplayableName() | 07.23.17 @ 22:55

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December 01, 2015

Diana - thanks for the question...I would recommend asking the people you know and trust for referrals they have used for loans and then contacting these referrals and ask them to outline the steps. Once you have made these calls, decide on one to begin the pre-approval process with.

$commenter.renderDisplayableName() | 07.23.17 @ 22:55

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