Today I received a few calls from 1st time home buyers asking the following:Â "What should I do if I want to become a home owner?" and "Do you have a process in place? What should be my first step?"
Your first step to becoming a home owner is talking to a lender and getting pre approved for a mortgage.Â
1.Â A pre approval will tell you the type of loan, the interest rate and how much you will need for a down payment.Â All of these items are important so that you can stay in your price range and stay within your monthly payment range.Â Without knowing these 3 critical items you are just guessing and why would you want to guess when looking to make the largest investment of your life?
2.Â A pre approval will also give you an advantage over other buyers in the market place.Â Your realtor and sellers will take you more serious and know that you are prepared.Â If you are looking at bank owned properties or HUD Homes they will not even allow you to place a bid without having a pre approval letter.Â By having this complete you may just happen to beat other buyers interested in the same property!
3.Â With my lender a pre approval makes your loan process quicker.Â My lender has an underwriter that works directly hand and hand with him.Â His underwriter reviews every file prior to giving the buyer a pre approval letter.Â This makes a smooth and quicker transaction with no surprises.
These are the top 3 reasons.Â The lender I work with works for a local bank and offer the lowest interest rates and closing costs in town!Â 95% of the buyers I have worked with have used him and were very pleased.Â His name is Raub Warner and he works with the State Bank.Â He offers FHA, OHFA, Rural Development, Welcome Home, and Conventional Loans.Â If you are looking for a great lender who specializes with helpingÂ First Time Home Buyers give him a call!Â (614) 571-0626
After calling him make sure you give me a call as well to schedule your FREE First Time Home Buyer Consultation. What are you waiting for?!?! I am a FREE service to all buyers so why wouldnâ€™t you want someone that has your best interests in mind??Â
Molly Hay, SFR
Re/Max Town Center