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Step 1
Figure out how much money you will have for a down payment. Most lenders will require you have a down payment for any type of property loan. Clean out your savings account, look into withdrawing a percentage of your 401k (if you have one), borrow from a family member, get a small personal loan from your bank or sell stocks or bonds to get a decent down payment.
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Step 2
Make a list of questions to ask a lender. Note your credit score, amount of down payment and price range that you are looking for.
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Step 3
Search online for loans. Websites like Lending Tree can give you pre-approval online. This gives you a good idea of what you could potentially be approved for and what your estimated payments would be. This is a starting point for looking for a condo. You can also choose an eLender like Lending Tree and stop here.
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Step 4
Use your yellow pages to find a lender in your area. Call them and ask the list of questions you made in step 2.
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Step 5
Schedule a meeting with a lender. Make sure you know what paperwork to bring to your appointment.
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Step 6
Show up for you appointment with all required information. Find out if you are approved, usually on the spot.
