If you haven't talked with a lender - that should be your very next move!
If you don't know where to start or where to look, we would be happy to help you find a lender for you to start the ball rolling. It's not as scary as you might think! The lenders we work with we definitely consider to be part of our team! You want to work with lender that is able to guide you and reassure you during the home buying process. If there are financial issues that come up and need to be addressed before you are able to purchase a property, the lenders we like to work with are there to help you every step of the way. We all want our clients to succeed in their dreams of home ownership.
Why Get Pre-Qualified?
1. Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only minutes or a few hours at most, and is free.
2. While a "pre-qual" is non-binding to the lender (because the information you provide has not been verified), it does serve as a good indication to potential sellers of your general creditworthiness.
3. These days most sellers will NOT accept an offer without at least a pre-approval letter, so if you are serious about buying this is the first step towards getting you in your new home.