Home Buyers: Can Your Realtor Help You Get Pre-approved for the Right Loan?
Thanks to my blogs, websites and some very selective advertising, my phone rings with calls, beeps with text messages or dings to lets me know when an email query from a new buyer has come through. On a good day, it can be a real symphony of sounds squawking forth from the Blackberry.
Ring! Beep! Ding! I love days like that.
Today was one of those days and one new buyer -- I'll call him Mike -- emerged at the head of the pack because he's already done what I asked him to do -- talk to one of my preferred lenders about a mortgage loan.
After a new customer and I first make contact and chat for a while about their real estate goals like Mike and I did today, I ask if they have seen a lender to find out what kind of loan would be best for them.
Very often the answer is, no, they haven't talked to a lender yet. Mike admitted that he -- in his own words -- was "clueless" about how to go about getting himself and his wife and kids a place to call their own.
I gave him the name of a lender who I trust to do a great job making a decision about the best loan for his situation.
Before the day was over, the lender called to let me know that Mike had talked to him and they are meeting tomorrow to go over the process.
So, in a sense -- yes -- as your Realtor, I can help you get pre-qualified and pre-approved for that mortgage loan you need to become a homeowner. I do it by making sure you talk to a good lender who I trust to give you the best possible advice.
"My" lenders (I get proprietary about people who do a great job for my clients) know about:
- Grant programs in Madison County and St. Clair County, Illinois (the two counties in which I do most of my work) to get money for closing costs and other pre-paid items for my buyers who meet certain income levels
- VA loans for military veterans
- FHA loans with small downpayment criteria
- USDA Rural Development loans for buyers who are considering homes outside of the cities
- 203K Loans for both the purchase and rehab of a home
- Credit repair -- for free -- for buyers who are on the edge of qualifiying for a loan
- They even have conventional loans with 3 percent downpayments as I write this post
Folks, a good lender will have a smorgasbord of choices and will match your needs and circumstances to their offerings.
Conversely, if a buyer has too many credit problems to allow them to become a homeowner right now, these good lenders will tell them to wait a while and just rent for the time being while they work on bringing their debt to income ratio into balance.
If you're in the market for a home in St. Louis' Illinois suburbs including the towns of Edwardsville, Glen Carbon, Maryville, Troy, Collinsville, Granite City, Bethalto, Wood River and throughout Madison, St. Clair and Macoupin counties, and you need to take the first step -- getting a good loan -- call or text me at 618-791-8007 or email Nancy@GoshenRealtyGroup.com to talk about it.
Together your lender, your Realtor (that's me) and the most important person in this process -- you -- will make a great team to get your loan done, get your next home selected and get you to a smooth closing.