You are graduating from college, you have your first real job in your field of expertise, and you are ready to purchase a home and get out of the apartment you are currently in.

Before you consider looking at homes on the internet, or with a REALTOR, there are several things you should do first.

When you have student loans, check out one of my past blogs that covers the topic “Student loans are affecting home buyers”. Another blog to check out is called “Can I afford buying a home or do I need to make some changes”.

Both blogs will give you great information for helping you achieve the dream of buying a home after graduating from college.

One thing you should do first is consult a mortgage professional to find out the size of a mortgage, based on your personal financial situation, you could afford.

In some cases you might not like the answer.

When talking with a mortgage professional you should come prepared and have not only with your personal financial information, but also a handful of questions you should ask the mortgage professional.

Ask them questions like how long they have been in business, how many loans they have originated have closed, how long they have been with their current company, what type of mortgage programs are available to you, and have them explain these programs to you. Last but not least ask them about their fees.

Yes…there is a cost that you may have to cover for having them write a loan for you, on top of the purchase price of the house you would like to buy.

When you would like to have a list of the possible fees the mortgage brokers will charge you contact the Settles Team for a list.