Real Estate tip #2. Get pre-approved early to avoid future issues. So, you check your credit online, you check your bank account, you have a growing income... everything looks great! Well, you might be wrong about that. There are so many issues that can keep you from getting pre-approved. Job history, debt to income ratios, credit, taxes, etc. If you are wanting to buy within the next 6 months to up to 2 years, then I recommend getting a pre-approval with a good lender right away. When the time comes to buy you want to be ready. You may have a simple issue on your credit that only takes 6 weeks to take care of. If you found the perfect home, but it will take you 6 weeks before you will have pre-approval letter to make an offer, then you might have to start the search over. Broken hearts lead to bad decisions. So, dont get your heart broken, and make sure you are ready to buy your dream home. I saw a Lending Tree commercial that basically said not to go with your Realtors suggestion, but to shop Lending Tree for the best fit for you. The problem is that you dont have any previous experience with these lenders. As a Realtor I can say that I want everything that you want out of a lender. I want a quick on time closing, great customer service, (even on the weekends,) and someone who knows what they are doing that can resolve any issues that may come up quickly. If your Realtor has sold hundreds of homes, then dont you think they know which lenders to go to and which lenders to avoid? Ive had clients insist on their own lender and the process was very difficult and sometimes took months longer than expected. Not fun! With the lender I recommend we get a high success rate of on time closings, (30 days or less,) and we always get great customer service. Trust your Realtor. Coming soon: Real Estate tip #3. Get your home ready to sell.
Posted on: Tue, 22 Jul 2014 18:33:50 +0000
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