Buying - Step #1 Mortgage Prequalifying...


Buying...

As Certified Residential Specialists, Realtors can represent you in the buying transaction. They can search all available homes including the multiple listing service, “for sale by owner,” foreclosures and new constructions. This service is at no cost to you. A realtor can also help you find the right lender and negotiate the best loan possible.

Step #1 – Mortgage Prequalifying:

Whether you’re buying for the first time or the tenth time, it’s important to speak with a local lender prior to your home search. Credit report errors, qualifying rule changes, closing costs and other areas of the loan process should be resolved as soon as possible. Pre-qualification will take the guess work out of how much you plan to spend and what your closing costs and down payment will be. Being pre-qualified strengthens your negotiating posture when you make an offer on a home. It tells the seller that a mortgage professional has given you the go ahead guaranteeing the deal. Knowing the financing picture lets you prepare up-front if you need the seller to participate in your closing costs. A good realtor will supply you with the names of several lenders who will be happy to provide this service to you, although this will not lock you into any particular lender. Once your contract has been accepted you will have several days to make loan application and we will shop for the best terms and rate for you at that time.


Posted by Steve Cash on 07/25/2012
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