I get this question a lot. I want to buy a home but where do I start? Do I talk to a mortgage professional? Do we start looking at homes right away? Well, here is my answer.
I always suggest that my clients start with contacting a mortgage professional before starting any home search. There are multiple reasons for this:
- A good mortgage professional will give you not only what you can afford but will guide you more in the direction of what you are comfortable spending. These can be two very different things.
- A home search can be very time consuming so why waste your time looking at homes you can’t afford or don’t want to afford? Make the best use of you and your Realtor’s time by targeting the homes that are in the price range and area you desire.
- Because the home market is so competitive right now, coming to the negotiating table with a pre-qualified mortgage letter puts you in a stronger position. Meaning that when you find that perfect home you can make an offer immediately and don’t have to wait for the pre-qualification process and possibly loose out on the home you have been searching so hard for.
- Finally, the offer to purchase is a tool used to convey your ‘worthiness’ to the seller and by including a Pre-Qualified Form or PQF with the offer it lets the seller know they are dealing with a more prepared buyer.
- If you are fortunate enough to be paying cash skip the steps above and call me first.
By adhering to this advice you should be able to be more efficient with everyone’s time as you move forward with finding that perfect home.
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