Nix Emotional Decisions
Home buying doesn't begin with home searching. It begins with a mortgage
prequalification. Often, first homebuyers "are afraid to get
prequalified," says Steve Anderson, owner of Re/Max Benchmark
Realty in Las Vegas. They fear the lender may tell them they don't
qualify for a mortgage or they qualify for a loan smaller than expected.
"So they pick a price range out of sky and say, 'Let's go look for a
That's a backward approach, says Ed Conarchy, a mortgage planner at Cherry Creek Mortgage in Gurnee, Ill.
get preapproved, and then you find a home," he says. "That way you'll
make a financial decision versus an emotional decision."