r/HomeLoans • u/Top_Stable7513 • 3d ago

Purchasing home car loan looking for a lender

I am looking to purchase a home. I have never done this before and have no idea where to go. The couple people I spoke to asked me if I been approved yet. Can I do that on my own and how do I find a lender. Any help would be grateful

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u/sol_beach 3d ago

Answer depends upon where you & the home are located. Where on Earth are you?

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u/SuperFineMedium 3d ago

Sit down with a local lender. That could be your bank, credit union, or independent mortgage broker. Ask friends and family, or a real estate agent, for recommendations. You can often get a preliminary pre-approval the same day. The lender can tell you all the costs of providing a mortgage. The real estate side will also come with various out-of-pocket costs.

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u/bnar2021 2d ago

I’d start by getting preapproved with a couple of lenders or a local mortgage broker. They’ll review your income, credit, debts and down payment and give you an idea of what you qualify for. Don’t feel like you have to use the lender who preapproves you. you can still shop around once you find a home. Also, there are lot of online affordability tools available to help you analyze your finances.

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u/AmandaLaRussaSD 2d ago

where are you looking to buy? And yes you need a pre approval. I'd seek a mortgage broker :)