Thanks to this site I was pre approved wit no problem! I start my home search tomorrow. Any advice for a first time home buyer?
Awesome! If you have a minute, we'd love for you to leave a short testimonial in our testimonial section as well. That would be much appreciated! Oh, and as far as advice for a first-time homebuyer...put at least 20% down and make sure you have a 6-12 month EF ready to go before you close on the home. Home ownership comes with a lot of unexpected expenses, so you need to be well prepared and make sure you're buying something well within your budget. Good luck! I'm trying to buy a home right now as well, so I know how it can often be a frustrating and nerve-racking experience.
Yes, they can take quite a long time to close since the seller's bank needs to approve the deal; however, that's no reason to avoid them altogether.
Foreclosures provide great prices, too. But with all the crap going on with banks being sued for NOT following proper foreclosure procedures, there are people who bought foreclosures who are finding out that their house is no longer their house, because the bank didn't have the legal authority to foreclose and, therefore, sell the house.
