Congratulations on deciding to take the first steps toward owning your own property! Lets get started!
There are a few good reasons to get all your financial tasks taken care of before you start looking for a home.
Talking to your lender will determine what you can afford to buy. Nothing is more annoying starting your home search with a purchase price in mind and finding a house you love only to discover that you cannot afford it! Find out what you can spend first!
The way the market is working these days, you MUST have a pre-approval letter from your lender. By arranging your finances ahead of time, you can get that letter very quickly. Properties are selling quickly, so being able to produce that letter as quickly as possible is a must if you want to make your offer before other buyers.
Another big reason to talk with your lender first is that you may have borrowing options that never occurred to you. Your status as a veteran, teacher, member of law enforcement, firefighter or other career may play a part in whether or not you have access to special lending options. Discuss all of these items with the lender you decide to work with.
I always suggest that my clients talk to more than one lender when shopping for their loan. The process of borrowing money is just like buying a car, you are buying a financial product. Shop around for the best deals. The best way to get a good sampling of what is out there is to talk with several different kinds of lending institutions, here are some suggestions:
You can actually start this search at any time. It is usually better to do it after you know how much you can spend. But it can also be a great way to figure out what your money can buy you.
Sit down and figure out what you must have from your new home. Decide if you will only settle for a single family residential home or if a townhouse or condo will do. How many bedrooms will you settle for? What about bathrooms? Do you need a larger yard? Do you have to be near the train station? Once you have figured out how your new home needs to fit into your lifestyle, you will be better able to put together a search that will find the right home for you.
Once you have figured out what you are looking for, it is time to get the search running. You want a search that will give you the most up to date information available. Homes are selling quickly, so you need to get the word as soon as a home that fits your needs comes onto the market. Sites like Zillow, Trulia and Yahoo Real Estate will NOT give you the timely information you need. They tend to get new listing information a day or two late and sold properties tend to continue to show up as available for months. Your absolute best chance to find the home you want without wasting your time is to arrange a search through me. My search tools get their info from the same database that real estate agents use, so it is the most up to date and accurate information available. You can either send me a message letting me know what you are looking for, or you can use one of the tools on this page to start your search yourself …. RIGHT NOW!