Should you talk to a mortgage professional before house hunting?

Absolutely! Many real estate agents will actually require that you talk to a mortgage professional before you even go out house hunting. They will want to know that you have been "pre-qualified" and what price range of homes you can afford.

There are a few reasons for this. First of all neither you nor the real estate agent wants to spend a lot of time looking at homes that you may not be qualified to purchase. Imagine how disappointed you’d be if you found the home of your dreams only to find out that it is a bit beyond your means financially.

Second, the home seller will want to know that you are a ready and able buyer. By informing them that you have been pre-qualified they know you are serious and the likelihood of getting their home sold quickly is good.

Besides, the pre-qualification process is easy and quick. All we need to know is a little bit about your income and your existing monthly obligations. We’ll also ask to take a look at your credit score. Based on this information we can determine a monthly payment amount and loan amount that is comfortable for you and within the guidelines for approval by a lender.

Feel free to do some upfront research yourself using the calculators on our website. Then give us a call and we’ll help you find the right loan program and provide you with a Pre-Qualification Letter, so you can shop with confidence!

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