Thinking of Buying a Home? The First Thing to do…
Is buying a home in your plans for this year? Are you thinking of buying a home at some point in the “near” future?
There are several things you need to decide if you plan on buying a home. For example, you’ll need to consider the style, location, square footage, and type and number of rooms. These are all important; however, the first thing you should do is find out how much you can get approved for on a loan — unless you are paying cash.
Knowing how much you can pay for a house (the loan plus down payment, insurance and property taxes) will help in two significant ways:
- It will help you decide the type or style of home you want, the size, number of rooms and the locations where you can look, and
- It will help you be competitive in the buying process.
Let’s concentrate on the second item – being competitive in the buying market. Robaxin us Most real estate agents won’t even show buyers a house if the buyer does not have a loan approval from a financial institution. The loan approval is different from a loan pre-qualification.
A Seroquel loan pre-qualification means that the loan officer has looked at your application and pending all of the information being verified and accurate, you can probably obtain approval for a loan.
Loan approval means that your loan application has been reviewed and the financial institution’s underwriter has approved your loan. All you need to do is go find a house, tell the loan officer the address, obtain an approval letter and make an offer!
So when you are thinking of buying a home, the first thing you need to do is obtain a loan approval. Your real estate agent will be able to help you find the home that best fits your needs and lifestyle within the amount you can afford.