Why Can’t You Show Me Properties Before I’m Preapproved for a Loan?

Reblogger Lanette Branch
Real Estate Agent with RE/MAX Components

"Why Can't You Show Me Properties Before I'm Preapproved for a Loan?"

Because I am a professional and this is my business.  It's just not good for my business to waste my time (and yours).  Enough said.  Well, actually, Sally has more to say - see below...

Original content by Celeste "SALLY" Cheeseman RS-#62825

"Why Can't You Show Me Properties Before I'm Preapproved for a Loan?"

I have had at least a third of my ‘potential' clients ask me this question and to tell you the truth it's a very valid question for the first time home buyer.  The excitement of making that first initial decision to purchase a home was their first step and then they immediately want to go out looking at that dream home with four bedrooms and a perimeter lot with a ‘to die for' view of the ocean.

It's 1.5 million dollars.

What is your desired monthly mortgage payment?  In other words, are you comfortable with paying XXX  per month for that dream home? The first time home buyer will usually have an amount in mind that is one third the payment per month for that million dollar home.

Speak to a Hawaii Local Lender who will gather all your information (income, credit, debt etc.) so they can conclude what price range you are qualified for and are comfortable with for that monthly mortgage payment.  The loan officer will also give you options for loan programs that will suit your needs.

Getting preapproved will also save time and heartache.  How?  Knowing what price range you're approved for will keep you in a realistic frame of mind in searching for that dream home. There is no sense looking at million dollar homes when you are qualified for a half a million dollar home.  We make appointments and look at your selected price range of homes (or condos/townhouses) so we aren't spinning our wheels and wasting time.

And......

No broken hearts over a "to die for home"

........ that you can't afford.

                                                                   

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Ambassador
1,090,147
Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI
(RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE

Thanks for the reblog!  Our time is valuable and if the one isn't serious and being realistic I'm sure the others waiting for my time are!  :)

Jan 16, 2011 05:47 AM #1
Rainmaker
132,468
Lanette Branch
RE/MAX Components - Fallston, MD
Bel Air, MD REALTOR

No prob...your well-written post was much appreciated!

Jan 16, 2011 05:51 AM #2
Rainer
28,402
Christopher Taylor
Corpus Christi, TX

Great blog it deserved to be reblogged.  I run into this problem at least once a week.  Wish i had a client approved for that million dollar home!

Jan 16, 2011 06:06 AM #3
Rainmaker
182,188
Sherry Chastain
Hendersonville, Nashville, Old Hickory, Lebanon Tennessee - Hendersonville, TN
Realtor, Selling Homes, Lake Properties,Luxury Homes,Short Sales

Yes it's no fun to spend your day looking at homes the buyer can't buy. Amazes me how many people will tell you can afford XXX. But after visiting the Loan Officer they really can't buy.

Jan 16, 2011 06:06 AM #4
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Rainmaker
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Lanette Branch

Bel Air, MD REALTOR
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