For buyers looking to (successfully) buy a home in Charlotte NC, before choosing a home and making an offer it's a really good idea to have at least a preliminary good faith estimate from your mortgage professional.

    Just as an aside....if the mortgage professional you're working with is evasive OR tells you they need a purchase contract to even give you an estimate, that's a huge red flag!!!

    A good faith estimate from your mortgage professional will help you the home buyer get an idea of what you're looking at when it comes to closing costs, a general idea of what it will cost you to actually buy any home you're considering. 

   While it's just an estimate and the chances are pretty good exact numbers will change based on which    home you choose to buy (things like taxes, insurance, purchase price, an unlocked interest rate all could impact closing costs), having at least an idea of closing costs for any mortgage is always helpful before deciding to make an offer on a home.  You'll get a new good faith estimate when if things change but a preliminary one is still absolutely a good idea.

   Before making an offer to purchase any Charlotte NC home for sale, take the time to talk with your mortgage professional about closing costs AND to have a chance to review a good faith estimate with them.  Buying a home's a complicated process and education is powerful.  Knowing ahead of time what you're getting into is key to taking the next step on your successful home buying journey. 

   Having a good faith estimate before you even make an offer to buy a home also allows you the home buyer to compare the costs, pros and cons between loan options that you may be considering. It's typically less stressful to have started to weigh and evaluate those mortgage options before you're in the midst of home inspections, any repairs, the myriad of deadlines in the contract to close phase when buying a home in Charlotte NC.

   It's also helpful to have an estimate of your closing costs in the event that's a point of negotiation during the offer to contract phase rather than blindly agreeing to some amount in a purchase contract that may or may not be in line with what's realistic.

    None of the above is mortgage advice, just some observations and suggestions from having been a buyer's agent, seller's agent and home buyer myself in the Charlotte NC real estate market. 

Thanks for reading!

Real Estate for Buyers and Sellers in the Charlotte NC Real Estate Market

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