Before you start shopping for your new Santa Cruz home, take the steps required to get pre-approved for a home loan. Being pre-approved gives you a few advantages when you are shopping for a home:
• You know how much you can afford to pay for a home. This saves you time and reduces your frustration because you can look at only those homes that are within your price range.
• It makes you a more attractive buyer to sellers because they know you can get a loan to purchase their Santa Cruz home.
In order to get pre-approved for a loan, you need to:
• Find a lender. Shop around because terms and rates vary. Getting pre-approved does not obligate you to that particular lender.
• Provide your financial information. Be prepared to supply your…