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Should first-time homebuyers work with their bank or agent first?

Asked by Trulia Brooklyn, Brooklyn, NY Mon May 6, 2013

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I also recommend that someone first get a pre-approval from a lender, so as to know how much mortgage he may qualify for. This will tell you often how much house you can by, depending on how much you put down. Most real estate professionals can refer you to several mortgage professionals if you need assistance in getting the process rolling.
Richard Brody Licensed Salesperson richardbrody@danielgale.com
0 votes Thank Flag Link Tue May 7, 2013
you should work with the bank first so you know your buying power. what is the sense of looking
at something you can't afford to buy. and remember if you are approved for more than you are
comfortable spending, then you can spend less.
0 votes Thank Flag Link Mon May 6, 2013
They should absolutely meet with a Loan Officer before anything. Buyers must get all their finances in order before they meet with a Realtor and start searching for houses.

Most, if not all, Realtors will ask for a pre-approval letter before they begin showing buyers. It's important for all buyers who will be financing to know what they qualify for, what their mortgage options are, what the estimated monthly payments are and what to expect as far as closing costs, down payment, interest rates, etc.

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Javier Meneses
Senior Loan Officer
NMLS #23130
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
jmeneses@snb.com
(516) 606-9648 Cell
(631) 659-2011 Office
(516) 918-5383 Fax
0 votes Thank Flag Link Mon May 6, 2013
First with bank to see if u qualify. If not ur wasting everyones time including your own.
0 votes Thank Flag Link Mon May 6, 2013
You would want to get pre-qualified with a lender first that way your Realtor knows your price range? Then when you find a home that you like you can be ready to submit an offer.

Blanca Dover, REALTOR
Century21 Hometown Realty

Cell: 805-427-5646

Website: http://www.blancadover.com
Web Reference: http://www.blancadover.com
0 votes Thank Flag Link Mon May 6, 2013
Bank so that you can understand your financial situation first because you do not want to see properties that you can turn out to not be able to afford as that can cause frustrations in the future.
0 votes Thank Flag Link Mon May 6, 2013
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