What's the first step in buying a home?

Get pre-approved before you start touring houses. Pre-approval is when a lender pulls your credit, verifies your income and assets, and issues a letter saying exactly how much you qualify for and at what rate. It does three big things: it tells you a real, accurate budget (Zillow's affordability calculator is a guess — pre-approval is the truth), it shows sellers and listing agents that you're a serious buyer, and it locks in your rate options so you can move fast when you find the right home. In a competitive market a pre-approval letter is the difference between your offer being taken seriously and being thrown out. The full process usually takes 24-72 hours once you send me your documents, and the initial conversation takes about 15 minutes.