Buying
a home is a very exciting time and likely to be the largest investment you’ll ever make. The first step as a potential home buyer is to find out what you can afford.
When
you meet with a lender to pre-qualify, make sure you fully understand the type
of loan(s) available to you. Your lender
should be able to guide you through what the loan process is and the kind of down
payment you will likely need. Once you
have this information available, you will be ahead of those who choose to look
at homes first and then try to qualify.
Being
pre-qualified before you look at homes for sale will help you in two ways. One being you will know how much home you can
buy and second, you will be ready to make an offer quickly. This moves the process along and saves on the
frustration of finding the home you want and then finding out you don’t qualify
for it. It also helps to have this
information when you make an offer so the seller can see that the offer is not
a waste of their time.
Put
yourself in the home seller’s shoes for a moment. They may be looking at more
than one offer on their home. A fair
offer presented by you and your Realtor® with a pre-qualification letter can
carry more weight than an offer without this knowledge.
If
you have more questions about buying a home, we are always happy to help. The information above is simply one part of
the process, but it is a very important part.
Feel free to give us a call and talk to an experienced Realtor ®
today at 505-821-0807.
Be
well.
Catherine Martin-McKenzie
Land of Enchantment, Inc.
