I want to find out if I can buy a house. Do I need to go to the real estate offices first or a bank?

Asked by Nancy, Babylon, NY Sat Feb 8, 2014

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Javier Menes…, Mortgage Broker Or Lender, Melville, NY
Sat Feb 8, 2014
Nancy, you 1st step is ALWAYS to meet with a Loan Officer. The idea, as Benny suggested below, that you need to find a Realtor so that they can recommend someone to you is not always best. You'll simply be linked to the Loan Officer that particular Realtor would rather you use. Sometimes they prefer it because they know that Loan Officer is professional, reliable and will do the right thing by you, other times some Realtors recommend a Loan Officer because it's best for their broker's pockets. Do yourself a favor and meet with a couple Loan Officers and go with who you feel most comfortable with and feel most confidence in. I'm always available to help you get pre-approved if you need someone. Feel free to call or email me anytime. Good luck! IF MY RESPONSE WAS HELPFUL, CONSIDER CLICKING BEST ANSWER! • Javier Meneses Senior • Loan Officer • NMLS #23130 • STERLING NATIONAL BANK • 310 Crossways Park Drive • Woodbury, NY 11797 • jmeneses@snb.com • (516) 606-9648 Cell • (516) 740-4478 Office • (516) 918-5383 Fax
1 vote
I am a real estate broker in business since 1977 & have only suggested mortgage bankers & brokers based on their competence in their field & what they could offer the consumer. I too would suggest at least obtaining a pre-qualification to help with a buyer's negotiations. It shows their ability to consumate the transaction. Hank Cardello, BA, GRI http://www.NewIslandRealty.com.
Flag Tue Jun 10, 2014
With all due respect customs in New York may not be applicable to Florida. There are major differences in how our states do business. It is important that people buying in Florida consult local specialist. Real Estate professionals will assess the transaction and then guide buyers to appropriate source of funding and other service providers. We have wonderful condo-hotels on Siesta Key which I am sure is unique to most areas of the Country but Fannie and Freddy will not finance them so many times a mortgage broker that has access to private funds is needed so sending my clients to the best source is my priority. We have many Canadian buyers and in most cases they can not find conventional financing. Some of our condominium have a high concentration of investors. Local Realtors as myself many times know which properties they are and who will provide funding for them .
Flag Sat Feb 8, 2014
Anna M Brocco, Agent, Williston Park, NY
Sat Feb 8, 2014
If purchasing with a mortgage, be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously, therefore begin by visiting with any licensed loan officer; also choose an agent to work with, he/she will be your best guide. You can also check http://www.mlsli.com for available area properties.
1 vote
Martina Ryan, Agent, Bayside, NY
Fri May 2, 2014
Get pre qualified from a mortgage broker first so you know what your buying power is.
0 votes
Don Tepper, Agent, Burke, VA
Tue Feb 25, 2014
The only one who can tell you if you can buy a house is a loan officer.

However, generally real estate agents know who the good loan officers are. Therefore, to avoid a lot of wasted time and effort, your best strategy is to contact a real estate agent (who you might or might not later use for your home purchase) and get a list of 2-3 recommended loan officers.

You're under no obligation to use those loan officers, or any others. Nor are you under any obligation to use the agent. However, if they've provided good service and good advice, you certain should at least consider using them.

Hope that helps.
0 votes
Elaine Patte…, Agent, Massapequa Park, NY
Tue Feb 25, 2014
Hi Nancy,
I offer solutions to both of your needs all under one roof. Douglas Elliman Real Esate is the largest Realtor in NYS and now has become a Direct Lender as well. We continue to grow outside the region to Upstate NY, Florida, and now California. Direct Lending for us, is as important as are the sale of our homes. If we couldn't be competive, we wouldn't be in the business. We offer professionals with expertise in all areas of BANKING and REAL ESTATE and it is in your best interest to work with a company that can offer you everything, because we do take control and help your banking transaction move along. Especially when "Time is of the Essence" for both buyer and seller. I also would like to mention, when I present you offer to the seller, they feel less risk knowing the agent has had a careful eye qualifying their buyer and normally feels more comfortable with the offer. In times when there are inventory shortages and multiple offers, as a buyer you need to have the best and most experienced people working FOR YOU. I offer my 20+ years of experience and Douglas Elliman's 100 years of experience. I am avaialble 7 days a week and hope to hear from you.
Best of Luck!
Elaine Patterson, LBA
Licensed Associate Broker ..CELL: 516-343-9133
0 votes
Martina Ryan, Agent, Bayside, NY
Sun Feb 9, 2014
You should get a mortgage pre approval first as this will determine what your purchasing power will be.
0 votes
Dorene Slavi…, Agent, Torrance, CA
Sat Feb 8, 2014
Hi Nancy,
If you want to save time, you can interview local Realtors who will help you take care of your Pre-Approval and advise you.
0 votes
Nancy Prisco…, , Massapequa, NY
Sat Feb 8, 2014
Hi Nancy
The best thing to do is speak to a Lender to see what you qualify for and make sure you find out what your payments would be as well. You may qualify for a mortgage higher than what your comfortable paying monthly. If you need a reference for a lender I have genuine honest people I can refer you to.

Then when you know what your comfortable looking for I will be happy to help you with your home search. You can reach me on my cell at 516-729-0278 or by email at info@nancysellslongisland.com.

Nancy Fraser
Broker Associate
Exit Realty Premier
0 votes
Thomas Moser, Agent, East Northport, NY
Sat Feb 8, 2014
You should at least speak with a mortgage professional first in order to find out exactly what you qualify for and what your payments would be. You don't want to fall in love with a house only to find out that you can't afford it.

Tom Moser
Keystone Realty USA
East Northport, NY

Long Island's Commission Rebate Realtor
0 votes
Benny Kimsey, Agent, Sarasota, FL
Sat Feb 8, 2014
Find a local Real estate agent for the area with lots of experience and ask the agent for lenders in that area they can recommend and have had good experiences with as this may save you time,money and grief.
0 votes
Mike Watson, Other Pro, San Diego, CA
Sat Feb 8, 2014
Go to a bank or find a reccomended lender. If your credit is below 620 visit http://www.creditrepairmike.com and raise your score for one low price.
0 votes
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