Start off on the right foot!
Loan officers and realtors love when borrowers first meet with their lender and discuss the options available to them for purchasing a home. By speaking with your lender first, borrowers are able to make sure they are financially ready to become homeowners. They can learn what price range to look for when house shopping along with the down payment, interest rate, and monthly payment they can expect.
Get all your ducks in a row PRIOR to shopping.
We are seeing more and more realtors requesting a preapproval letter from potential buyers. Realtors want to make sure that the borrowers are serious shoppers and not misusing the realtor’s or seller’s time on an unrealistic offer. Houses often have several offers at time so finding the best deal and suitable buyer is imperative for the realtor in order to make the sale of the seller’s home go smoothly.
Plus, borrowers should be informed on their options for home ownership before they fall in love with a home that they cannot afford or be approved for.
Make the phone call to find a loan officer that can get you the preapproval you are looking for.