Yes, market seems to be adjusting, but not all of the lessons of the hot market should be lost. Start looking at property once you are prepared and aware of your financial profile and purchasing power. It is still important to go to a lender and find out what kind of payment you’re looking at. This should be a free no obligation service.
You can go 2 different ways Pre-qualification will get you some numbers to work with and a letter to present with an offer to buy a house. It is quick and requires little work on your part.
Pre-Approval is a step above that and mean that you already have all you information together for a loan and have a number that you can work with for a purchase price. With Pre-approval you have put much lender work behind you and are ready to take the next step with fewer question marks.