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Home / Blog / Mortgage Pre-Qualification / Should You Talk to a Mortgage Professional Before House Hunting?

Should You Talk to a Mortgage Professional Before House Hunting?

May 27, 2011 By Mary Catchur

Talking with a Mortgage Professional Before House HuntingAbsolutely! Many Real estate agents require that you talk to a mortgage professional before you begin house hunting. They will want to know that you have been “pre-qualified” as well as the price range of houses you can afford.

There are a few reasons for this.

First, 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. It can be discouraging to find a dream home only to realize that it is financially beyond your means. Talking with a mortgage professional before house hunting helps to set realistic expectations for homebuyers.

Second, the home seller will want to know that you are a ready and able buyer. Home sellers feel more confident working with homebuyers who are pre-qualified.  By informing home sellers that you have been pre-qualified, they know you are serious, and the likelihood of getting their home sold quickly is good.

The pre-qualification process is easy and quick. Mortgage professionals will need the following information:

  • Income.
  • Tax Documents.
  • Existing monthly obligations.
  • Credit score.

Based on this information, mortgage professionals can determine a monthly payment amount and loan amount that is comfortable for you and within the guidelines for approval by a lender.

Related: Pre-Qualify for a Mortgage: First Step in Buying a Home

Take Away

Talking with a mortgage professional before house hunting helps homebuyers better understand their price range and mortgage options while making themselves more attractive to sellers and Real estate agents. Mortgage professionals will help homebuyers ensure they are prepared for buying a home.

Marimark Mortgage

Marimark Mortgage is based in Tampa, Florida, and serves the mortgage needs of homebuyers, homeowners, and investors in Florida, Virginia, and Pennsylvania.

We specialize in mortgages for first-time homebuyers, conventional home mortgages, refinance loans, reverse mortgages, and FHA, VA, and USDA mortgage options. In addition, we’ve worked extensively with cash-out refinancing and help clients lower their monthly mortgage payments.

To get started with a mortgage to buy your next home, please fill out our Quick Mortgage Application or contact us.

Updated on August 11, 2021

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Filed Under: Mortgage Pre-Qualification

Opinions, estimates, forecasts and other views contained in this page do not necessarily represent the views of Marimark Mortgage or its management and should not be construed as an offer to provide financing at the rates or terms mentioned. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval. Although Marimark Mortgage attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. Information from this page may be used with proper attribution.

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