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The first thing to do when your going to buy your fist home is to go right ahead and be pre qualified for a loan. In order to do this you need to sit down with your lender and learn about the different types of loans. Together you and your lender can come up with the best loan for you. The main three are FHA, VA, and Conventional loans. FHA loans limit you to an $118,750.00 buying power. But, the bank is more lenient on slow credit and you can use 100% gift funds. VA loans are strictly for military veterans. Conventional loans give you a 240,000.00 limit. But, the buyer must have 5% of the sales price. To apply for a loan there is a list of things that you will need. You will need to bring W-2's for the past two years. If you are self-employed then you will bring complete tax returns. You also need your most recent pay stubs covering the last 30 days along with your last 3 months bank statements of all checking, savings, and asset accounts. Other than that you need the name and account numbers of all creditors, certificate of eligibility (if you are applying for a VA loan), and Landlords name, address and telephone number. When all that is done, it is now time to start looking for a real estate agent to help you along your way.Picking the right agent is something that you really need. If you end up with a lousy agent, you might be doing all the agents work. Choosing a good agent could make buying your first home the pleasant experience that it should be. You should interview at least 3 agents if you don't already know someone who has the experience. You should ask them questions about their status as an agent. Meaning, are they licensed Realtors. This is something important about an agent. Agent's who are realtors have a number of advantages such as being able to use a Multiple Listing Service. Multiple Listing Services are cooperative information networks of realtors that provide descriptions of most of the houses for sale in a particular region. Another good question to ask is whether or not the being a real estate agent is their full-time career. You don't want someone who can only be "tuned in" for half the time. The other thing that is a good idea to discus would be the party that the agent is representing. Let the agent explain the laws of agency in your particular area. The law of Louisiana presumes that the licensee you work with is your designated agent, unless you have a written agreement otherwise. Any other questions that you might have are good questions. That's what they are there for. After you found the best for the job go ahead and hire them.The first thing that you do when you hire your agent is sign a buyer contract. Basically, what the buyer's contract does is list the obligations of the buyer and the agent. There is a long list of things that the agent is going to need to be able to find the best house to suit your needs while also being in you range. This is the obligation of the client, to make sure the agent has the things...

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