MP -
The choice truly IS up to you and there are many great lenders out there that will do a wonderful job. Having said that, here are a couple of pointers. Everyone wants to lend to people with great credit scores and will fight for your business. If you have had issues in the past that have affected your score you'll find that not all lenders will deal with people that are extremely low. It's called "B" or "C" paper. Some big banks are just not set up for that and you'll find there are mortgage brokers that have a few more products available for those that have problems. You can probably still buy a home but be aware your interest rate will be higher. Also, not everyone is set up for FHA and VA. Most of the big companies are but smaller ones might not be and those are great loans to be using now rather than conventional mortgages. If you're in the health field, some local banks have what they call "doctor loans". They keep the loans in house and use different ratios to qualify you since you will have really high student loans and your debt to income ratio would be so skewed you would never be able to qualify under regular guidelines.

All REALTORS ought to be able to steer you to information about the $8,000 first time home buyer money that you can qualify for but you must close on your house no later than November 30th as it disappears December 1. Some communities have other programs that your REALTOR can share with you. In Columbia, the MHDC has a $5,000 first time home buyers credit that you can get if you fit their guidelines, live in the home as a primary residence and stay there 5 years.

I'm an ABR ( Accredited Buyer's Representative) and purchase a great "Homebuyer's Toolkit" that I give to all my buyers whether they're first time or not. It's a step by step guideline starting with how to find a good agent to help you. We're here to offer assistance so I'd get in touch with a qualified REALTOR to help you today. Interview a couple to make sure they know what they're talking about and that you feel like you'll like working with them. Good luck!

Trisha Lee REMAX Boone Realty, Columbia, MO
(573) 999-1000 TrishaLee@Remax.net

As many have said; it is up to you.
Being a first time home buyer you've made the decision at a great time. There are many programs out there now that are developed just for first time home buyers. So if you aren't familiar with these programs or which lenders can do them, you may want to ask a Realtor for a referral to a lender who is approved for these programs, such as the MHDC or NSP programs which both give you money towards the closing costs and down payment on your first home which need not be paid back. It's is also good to work with a Realtor who is familiar with these loan programs to help find you homes.
I am familiar with Florissant and the loan programs and would be glad to help you get into your first home. Just email me through the link on my web site, where you can also search for your new home.

It's up to you! I would start with financing just to make sure your credit qualifies to purchase a new home, then look for a good realtor in your area after you have been pre-qualified. It would really stink to start looking and find something you fall in love with and not be able to obtain mortgage financing!

You should definitely speak with more than one mortgage person. I was selling my own home in the fall and when the realtor called me with the offer I asked to take a look at the mortgage application before I went under contract and took the house off the market. I was assured by the realtor that if "her mortgage guy" said they were approved, then they were approved. Well "her mortgage guy" forgot to ask the borrower if he paid child support, so long story short, the deal blew up, and my home is back on the market. Always have a 2nd set of eyes on your approval to make sure everything is legitimate and correct.

I'm a St Louis Realtor and I really like to work with buyers who are motivated enough that they have already started to talk to a mortgage lender, BUT at the same time, there are some mortgage lenders who aren't very good (in our area, I've seen some who had no training and who steered people into loans that weren't right for them), so I like to make sure that the buyers that I work with take time to work with reputable lenders - as such if I have never heard of their particular mortgage guy (not just the company but their representative), I will typically give them the names of some of the lenders that I work with who I KNOW are reputable and will give them good honest information and will not lead them down the wrong path. I work with lenders who will take the time to work with buyers who may not qualify right now, to fix their issues so they will qualify tommorrow, and who are honest enough to tell them if another lender has a program that is better for them. I want my buyers to buy homes that they can afford now and who won't end up in a foreclosure situation a few years from now due to something that can be foreseen and avoided now.

I sit down with new home buyers, as do the mortgage lenders that I work with and we give first time home buyers a consultation that covers the basics of home buying and answers their initial questions. We are all available to answer other questions as they come up. Educated buyers are better buyers as far as we are concerned.

Mp,
It is up to you. Your realtor is more than capable of helping you find the right person for your mortgage needs. If you are worried about what Jack says, have them give you at least three names, and have the Realtor tell you why they feel these people would help you. Not all mortgage people are created differently. There are a lot of things that factor in. Do they broker their mtgs through another location or do they have in-house processing? There are also many different kinds of loans and programs that you may qualify for....which brokerage can help you figure out which program is best for you.

On the other hand, if you have a mtg person already, they can help you find a great Realtor to work with. Either way you decide to go. Congratulations on your decision and I hope you have great success.

That's completely up to you. In many cases, the realtor will have a relationship with a lender and attempt to "steer" you to use their lender. You're not required to. Find a lender you feel comfortable with. We all get our money from the same places so there shouldn't be a big disparity from lender to lender in rate or fees. The key is for you to find a lender you trust and feel comfortable with, and go from there. Feel free to contact me with any questions/concerns etc...