Home BUYERS : Most Frequently Asked Question's-a series.
I am starting a series of MANY questions that are frequently asked to me before starting the home buying process for buyers who are purchasing their first home or their fourth home. Why does someone have questions after 4 home purchases you say? I am privileged enough that I have many repeat customers. I have learned that even the most experienced homebuyer can forget how the process works. They don't do it everyday and they had me guiding them through the process on all of their purchases! PLUS, the market changes yearly and I keep up with the changes just like you keep up with your industry changes.
Here is the first question in the home buying process that I am asked frequently:
1. Should I talk to a lender before looking at homes ?
- YES! I strongly urge buyers to complete, with a lender of their choice, application. This helps us decide the price range of a home you can look at. Very important because you don't want to be let down after you have seen $300,000 homes and you only qualify for $200,000 homes.
- Also there are many items you need to learn about upfront when buying a home. A lender will let you know if you qualify without selling your current home, if you own, locking you in the best interest rates, and if there are any programs to assist you with your costs. There are closing costs, insurance needs and warranty's you need to know about so you are not "sticker shocked" later.
- When you do find the perfect dream home, the lender will submit a letter of pre-approval to your Realtor to send in with an offer on a home. In a competitive market, this pre-approval may be the reason a seller picks your offer over another buyer. Sellers want to sell to buyers who have already started the lending process!
I have many lenders who have done great work for my buyers if you do not know any lenders I can suggest someone for you!
There are also many questions, emotions and feelings in the home buying process. I help people navigate these questions and emotions by advising them based on my experience with many homebuyers!
Stay tuned ! More BUYER FAQ's coming soon!