First Time Home Buyer Cape Coral Mistake #5: Not getting pre-approved before house huntingÂ
Why get your hopes up looking at $300,000 homes, when you can really only afford a $150,000 home? Before you start house hunting, narrow down your price range by getting pre-approved. Shop for a lender or mortgage banker you can trust. (ask me for a referral to a a couple good ones ) The mortgage professional Â will review your credit, income, assets and debts, and recommend a mortgage with monthly payments that fit your budget. The result is a good faith estimate, a document that spells out the likely terms of your loan, including the interest rate and closing costs. Not only does this let you know how much house you can afford, it also lets sellers and your Realtor who is going to invest their time, experience and knoledge in supporting your efforts, know that you're serious about buying a home .
Southwest Florida Real Estate Blog!
Joe Kendall, Broker Associate & AuthorÂ
Right Choice RealtyÂ
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