Why is a good lender necessary? No money = No real estate transaction
There are situations where a home buyer does not need to obtain a mortgage but for the typical home buyers choosing a mortgage lender is a vital first step. As a professional Realtor, I can and will work with the lender of your choice. After all, my goal is for you to be completely satisfied with the entire transaction. Of course, I have great lenders I have previously worked with that I recommend (see links below). The lender you chose will be involved in the process from the very beginning of the home buying process. The first step, before we go out “shopping”, is to obtain a pre-approval. It would do no good if we just assume that you qualify for a $200,000 home. We would make an offer on the home of your dreams at that price, only to find out you qualify for $125,000 mortgage, that’s not good for anyone involved in the transaction. That is why my team requires pre-approvals before when begin the buying process. After you speak with the lender of your choice and obtain the pre-approval you won’t really interact much more with the lender until an offer has been made and accepted on a property you love, in your price range. Then the paperwork begins! Lenders will need bank statements, previously filed taxes, paystubs and possibly other financial documents. Make sure you are complying and getting them what they need as soon as possible. If you don’t your closing could be delayed or may not even happen. There are so many different lending programs out there for all types of credit ratings and down payments. Did you know you could get qualified with a credit score as low as 580? Or that you could have a loan with 1.5% down or even as low as $0 down? If you want to know what company may be best for your unique situation call us today and we can guide you in deciding who may be able to help you best.
Here are a few lenders I have worked with that I highly recommend to my clients. You can find out more about each lender and even apply online by clicking any of these links!