So...your looking for a home...you have an agent, but your agent wants you to get your mortgage approval or at least a pre-approval before he/she will take you out find your dream home.

Where do you start?  How much can you qualify for?  Where do  you go?

There are many, many options for you to choose from...it should be easy. However, because of the many options at your disposal, its important to seek advice from an experienced mortgage professional who has your best interests at heart.  You may find this person through your real estate agent, a friend, past experience, or perhaps even here at Active Rain.

The first step after finding an experienced loan officer is to ask yourself the very important questions below:

• How long do you anticipate that you will live in this home? Is this your home for a lifetime or during the school years of your children?
• Do you expect any big changes in your life over the next several years? School changes for your children, i.e. are they leaving for college?
• Are there any anticipated changes in your income? Promotions? Relocation possibilities? Retirement? Pensions or Social Security?
• Will your investment portfolio have any changes over the next several years?
• Are you a conservative investor? Agressive with your investments? Or somewhere in the middle?

The questions above are important because after evaluating them and what stage in your life you are, various loan programs may appeal to you more than others.  And that will be an individual choice to make...what makes you nervous may appeal to another homeowner or vice versa.

At the end of the day, be sure you understand the costs associated with your loan, your payment, any mortgage insurance info you need to know about, That information will help you in any future adjustments you need to make to your financial picture.

The most important thing to remember though is to analyze your choices carefully and consider how they fit into your long term financial goals.