Whenever I am approached by someone interested in buying a Park City home, the first thing I ask is “What do you qualify for?” Most people have no idea and it’s really frustrating for a buyer to fall in love with a property they cannot afford.
So, I always make sure my clients have spoken with a mortgage company and know what they qualify for before we start looking for homes.
It’s also very helpful because, say you only qualify for $350,000, and just aren’t finding anything you are interested in at that price point? Most mortgage companies can tell you what you need to do in order to get the price point you want to be at.
I experienced this firsthand when my husband and I were looking for a home. After meeting with a mortgage company we were told what we qualified for and what we needed to do to get to the price point that worked best for us.
A really neat thing about meeting with a mortgage company and discussing what you can qualify for is that they don’t charge you anything, it’s free. So, please, if you are thinking about buying a home take the time to meet with a mortgage broker to see what you can qualify for. It will save you a lot of time and frustration!