Mortgage Advice (Shopping Around)

[Padric Lynch]

Good Evening!

I'm a first time home buyer and I am planning on moving to Jacksonville, NC within a couple months. With that said, I'd like to get my financing set up beforehand. This house will be house hacked (of course), as I plan to turn it into a rental and move to another house hack. I've been calling different banks and lenders for information, but have not applied just yet. Does it make sense to apply with multiple lenders and receive multiple credits checks in order to nitpick the best offer? My credit is good, but I'd hate to see it take an unnecessary hit. Maybe I'm over thinking this?

Also, I've been looking into first time home buyer assistance programs. I'd like to know if anyone has had experience with these in NC. Would I be able to utilize program benefits or start applying without being a resident of the state?

Thanks!

Paddy

[Chris Mason]

Originally posted by @Padric Lynch:

Good Evening!

I'm a first time home buyer and I am planning on moving to Jacksonville, NC within a couple months. With that said, I'd like to get my financing set up beforehand. This house will be house hacked (of course), as I plan to turn it into a rental and move to another house hack. I've been calling different banks and lenders for information, but have not applied just yet. Does it make sense to apply with multiple lenders and receive multiple credits checks in order to nitpick the best offer? My credit is good, but I'd hate to see it take an unnecessary hit. Maybe I'm over thinking this?

Also, I've been looking into first time home buyer assistance programs. I'd like to know if anyone has had experience with these in NC. Would I be able to utilize program benefits or start applying without being a resident of the state?

Thanks!

Paddy

 Move to NC, rent, and then start worrying about homeownership. 

Buyers that do not have physical boots on the ground often get taken for a ride -- see for example the "turnkey providers" and various threads lamenting that experience.