Home Buyer Tips How to Save Yourself Some Heartbreak

Home Buyer Tips
How to Save Yourself Some Heartbreak  

Setting you up for success by finding your lender first
 

As you may know I offer a free seminar every month for First Time Home Buyers to help anyone thinking about buying a home to start wrapping their head around the process. One of the questions I'm often asked is "Why can't I shop for the house and then shop for my loan?" We can all understand where this question is coming from. Someone may be hesitant to really get too far into the process if they're not sure Mr. or Ms. Right House is out there. Well, as a professional "house & new owner matchmaker" I can assure you it's out there! You just have to be realistic about what you need and be READY to sweep that house off it's feet when you find it.  

The fact of the matter is you need to be pre-approved for your home loan Before you shop for your new house for several reasons:

1. Save heartbreak by knowing your price point - Our region has homes of many different shapes, sizes, and price points. Without first knowing what price you can afford there is no way to find your house. Nothing is more heartbreaking than falling in love with a house you can't have. Online calculators can give you a ball park, but many specific factors about your financial situation come into play when a lender is reviewing your application, and so only your lender can give you real numbers.  
2. Save heartbreak by being ready - The best houses that are priced right for the market sell quickly. You're looking for the very best thing for your budget and your needs, and so is everyone else. If you were to find the house and then try to go through the process of applying for a loan, the time lost could easily mean not getting the house because while you were trying to get your financing together, someone else contracted to purchase the house instead of you. 
3. Save heartbreak by writing a competitive offer - In our market the sellers want to know that their potential buyer is serious from the very beginning. Taking the house off the market for someone who is not ready, willing, and able to buy the house will cost a seller precious time and money. Including a pre-approval from your lender along with your offer to purchase the house shows the seller that you are serious and have the ability to buy it. The stronger your offer the more likely that you will be the one buying the house. 

There are many steps to the home buying process, and by following them you will find a new home you can love.

Happy Valentines Day!