which one should I do first; find a loan or a house?

Answer 1

There's no hard and fast rule. They say that seller will weigh your offer more if you are pre-qualified for a loan (if you know you have good credit - better than 700 credit score, then you really don't need to worry about pre-qualification).
But you do not have to secure a loan in advance. Home hunting may take several weeks or months. After finalizing a home, you will still have enough time to hunt for a good loan.
Use web site such as yahoo or bankrate.com which have plenty of resources for home buyers.

Answer 2

Love the avatar.

Find a lender in your area first, then the loan. A good lender will get you into a loan program that best suits you, not the one they make the most money on. Once you know what you can afford (but know your finances, don't take the lenders word that you can afford a $X,XXX payment if you know you can't), then write a contract on a house.

Answer 3

You should research different types of loans to find the best one for you. Talk to the bank to get pre-approved. This way you know how much house you can afford and you can show that you are able purchase the houses you are interested in.

Answer 4

First I would block Joseph W then I would get pre qualified for a loan and then find a house

Answer 5

Think smart. By talking with several local lenders, you get to know what programs are available and which ones suit your financial situation the best. Get preapproved by the lender you select, if you're a first time buyer, ask about first time buyer money. Now that you know what you can afford, if you quaify for first time money, you can shop in confidence. Think smart.

Wanna know how to find a great realtor? Ask me!
Hugs from Minnesota Realtor!

Answer 6

The loan, definitely. That way, you will know what your budget is before you start looking for a house and, invariably, fall in love with one that way outside your price range! And make sure you go with a trusted lender, too, especially with all of the turmoil that’s been going on in the mortgage industry recently!

Answer 7

Get pre approved first, with a letter of intent before you see a house, fall in love with it and cannot get financing. Also the approval will let you know how much or what range you should be looking in

Answer 8

if you're looking at new homes, they usually have built in financing, if you looking a used home go to a Realtor and look for the home of your dreams, the Realtor can give you a pretty good estimate of what your price range is, and they will also know what lending institution in your area that is lending money at this time, last night on the radio they said 1 in every 690 homes are in repossession

Answer 9

getting a "pre-approval" would be the "better way to go"...It gives you a little more leverage when making the offer on the house. If you can make an offer and let the seller know that you already have the approved finace...they are more apt to accept your offer than if you have to say...I'll give you "X" amount of money...If I can get approval...

Answer 10

Get approved first, then you will know how much house you can afford. But don't take every dime the banks offer you; they don't really care if you have no extra money, they will have the house if you overextend.