I am planning on purchasing a home in Jan/Feb of 2009.
My question is: When should I get the whole processs started with a pre-approval and then the actual loan?
I have no doubt that I will be approved (xlnt credit & 20% down), but I know that the pre-approoval rates or “good faith” estimates are only good for 60-days. So would that mean I should get a pre-approval in early Nov?
What about the loan itself? Do I decide which lender to go with after I find a home I decide on? What if the pre-approval has expired?
First time home buyer and any help clarifying this is greatly appreciated as I don’t want my credit checked more than once or twice as it has a negative effect. Please help