The first thing you need to do is get pre-approved. This is different from Pre-qualifying, as it is a full loan approval instead of simply an opinion letter. It is best that you take this step before looking at homes. Finding out what you qualify for will help you look in the right price range. You would be disappointed if you found a home you liked and then found you couldn't qualify for it. By the same token you may be able to look at more expensive homes than you originally thought possible. Getting pre-approved will help you in the following ways:

• Determine how much home you can afford
• Know what your down payment will be and provide financing options
• Know what your monthly payment will be
• Turns you into a cash buyer

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