Yes, before you even begin to shop for homes, we can't stress enough how important it is to Talk to a Lender! You will save yourself time, energy and possibly heartache.
Here are 3 reasons why:
*It's important to understand how much home you can truly afford. With today's interest rates it may be more than you think. But if not, it's very discouraging to shop first then pare down your dreams to fit your budget. It will leave you feeling disappointed and less excited abut the home ownership process. Buying a home should be fun so find out how much you can afford, THEN shop.
*You must submit a pre-approval with any offer. As of February 2011, this is no longer an optional advantage but a requirement. So if you see your dream home on a Friday but can't talk to your Lender until Monday you risk the chance that a more prepared Buyer will secure the property before you have a chance. In this market it's very common for the best homes in an affordable price range to have multiple offers. You, the Buyer, must be competitive, which means being prepared.
*Your agent and your Lender can work hand in hand to smooth your path to successful home ownership! Having a good team in your corner greatly increases your chance of getting the best home for your money. Some properties and neighborhoods will accept certain types of loans. Similarly, some sellers will offer incentives to assist with your loan or closing costs. Knowing your options opens doors you may have thought closed, literally.
At The Sol Group, we Personalize your Home Ownership Experience to help you achieve your dreams! We'd be happy to refer a quality Lender to guide you.
Contact us, we can help!