Bill and Liz Spear have written the perfect explanation as to why we REALTORS® ask you if you've gotten a pre-approval letter from a lender before we start showing you homes. It's so important to do this!!
You might be of the mindset that you want to find that dream home before you start checking out getting a loan. We understand, you've heard the stories about credit scores dropping from getting checked, and "Hey, MY credit is totally great! I'm GOLDEN! I've never missed a payment on anything!"
But here's the thing, we'd be doing you a serious disservice if we DIDN'T recommend you get with a loan officer as early as possible in the process. Why you ask?
Glad you're interested in knowing!
- Loan standards and programs are constantly changing! A good loan office can review your situation and determine the best program for you! And if there's something in your credit history that might put a crimp in your ability to buy, well they can tell you what you need to do to fix it!
- Do you want to be taken seriously by the sellers? When you find that perfect home, chances are they're going to want to have a preapproval letter attached to your offer! They NEED to know you've demonstrated at least the minimal ability to get the cash! Put their hat on, would you feel comfortable taking your home off the market because someone said "TRUST ME! I'm good for it?". Trust us, we'd be advising our sellers to leave the home ACTIVE until you and your agent got us the letter!
- We need to know the type program you'll be using for financing so we know how to prepare the offer. A week or two AFTER the contract is accepted is a little late to realize you need closing cost assistance! If we know what you need, we can build it into the original offer. Sellers HATE surprises like that later!
- And lastly, this one is mainly for us! We don't want to be the bad guys. You think you can buy a home at $xxxxxxx price. We show you homes at $xxxxxxx price. You and your family find THE ONE, THE DREAM HOME. And THEN you find out you can't afford to buy it. Just a bit beyond what you can get a loan for. You're crushed, and it's OUR fault for letting you in the home to start with when WE didn't know if you were actually qualified to buy it.
So can you see WHY we feel it's critical to get that preapproval letter first? It REALLY is in YOUR best interest. Don't know a great loan officer? We can help find one for you! Just give us a call or email and we'll be happy to get the process started for you!
Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz
The Liz Spear Team
Elizabeth & William Spear
Two locations: Lebanon & Mason, OH
Office direct: 513-248-3660 Liz direct: 513-265-3004
Bill direct: 513-520-5305 Fax: 866-302-8418
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