b'Get Pre-Approved for a MortgageFinding a lender before you start house-hunting is always a good idea for a few reasons. You will know up front what mortgage amount you are approved for which lets you know how much you can spend on your home, and pre-approval makes the financing part of the process after making an offer flow more smoothly. Many sellers will not even consider offers from a buyer who is not already pre-approved. It also never hurts to get a second opinion from another lender, who may have some suggestions on incentives or rates that your first lender doesnt have.Your lender will help you decide how large of a loan you actually want to take out, and will guide you through how your property taxes, homeowners insurance and closing costs will be factored into your final numbers.What You Need to Know About Your Credit ScoreWhile FHA loans technically require a minimum credit score limit of 580, higher scores in the 700+ range will get you better interest rates. Your FICO score will be one of the main determining factors for the type of loan you qualify for. Any increase in the interest rate can affect your overall monthly payment and also what you end up paying over the life of the loan term. There is a large disparity in how loans are approved between all the different lenders, so you may need to phone around to see what sorts of loans might be available to you.srqpr.com 9 941-777-0424'