My husband and I are looking to purchase a house in a few years and we would like to get the process started as we understand this process takes quite a long time. What is our first step and are we starting too early? We know we need a lender, real estate agent, mortgage person...

Really... what are the steps to follow?

Just make sure you have good credit and save your money so you can put at least 20% down in a down payment on the house.

You are WAY early. What you can be doing now is saving up your down payment, checking your credit rating, making sure your score is in the 700s or higher and researching neighborhoods. When you are ready to buy, then you can go to a lender and get yourself precertified so you know how much house you can afford. You can then visit realtors in the neighborhoods you have centered on.

The actual process of finding and buying a home can take a few months to a few years depending on how picky you are and the market. You could find the home of your dreams the first time out, or still be looking after more than a year. The process once you find a house is usually 1-2 months from going to contract (offering a binder on the house) to closing.

If you have a local lender, you don't need a mortgage broker,

Often if you have good credit your local lenders can get you good rates.

And the process does not take that long, you get a real estate perosn, and look for a house you like ( that is the hardest part) if you find the house, you get a home inspection done. During that time, you go to your local lenders or use a mortgage broker to help arrange the loan.

As mentioned, the more down payment you have the better

My husband and I are looking to purchase a house in a few years and we would like to get the process started as we understand this process takes quite a long time. What is our first step and are we starting too early? We know we need a lender, real estate agent, mortgage person....

Really...what are the steps to follow?
All great journeys begin with the first step. Your first step is to be pre-qualified. This should cost you nothing and allow you to understand 3 things.

1. Where are you today.
2. What will you need to do to be qualified to purchase your first home.
3. The steps you must take between now and then.

I, naturally, recommend... me. But there are many opporutnities to be pre-qualifed in every market here in the US.

Take that first step... you won't regret it.


Ron Schwartz - SunTrust Mortgage