• Determine if buying a home now is smart for you.

• Get pre-approved for your loan, and study the real estate market.

• Identify neighborhoods you like.

• View specific homes.

• Pick a home that meets your needs.

• Analyze the value.

• Negotiate the contract.

• Close and move.

Once you have examined your personal financial situation and given yourself the green light to buy a home, the next step is to get pre-approved for a mortgage.

Getting pre-approved is smart for two main reasons:

• You’ll have less stress and more confidence while home shopping because you’ll know exactly what you can afford.

• You’ll have better negotiating strength with the seller when you can show them a pre-approval letter from the lender.

Yes, getting pre-approved is smart and it is the first step that you should take once you decide to buy a home. But hold your horses! There is a lot that you should know before you rush down to your local bank and get pre-approved to buy Albuquerque real estate.