After you have met with a real estate professional to discuss your goals, you want to make sure you have determined how you will finance your purchase. If you have determined you will be obtaining a mortgage, your next step will be to speak to mortgage lender.
You may already have a lender in mind, or your real estate agent may recommend a few. Either way, it is important to get pre-qualified so you know your buying power. A pre-qualification will help you understand how much home you can afford and provide an estimate of your monthly mortgage payment.
Your lender will review your information such as credit history, employment status, income, expenses as well as down payment amount you are considering. Additionally, your lender will help you find a loan program that best fits your needs, such as loans for military members, down payment assistance programs, and property-specific loan programs (such as USDA loans for rural areas).