Jenkintown_f…, Home Buyer in Jenkintown, PA

Which comes first, getting a real estate agent or finding a mortgage lender?

Asked by Jenkintown_first_time Buyer, Jenkintown, PA Sat Mar 5, 2011

I will be a first-time home buyer. I am starting to read on the home buying process, but I do not yet get a clear picture as to which should come first in this process in general, getting a real estate agent or finding a mortgage lender to get loan preapproval.

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Answers

142
Brant Millham, , Maryland
Mon Mar 14, 2011
Make sure when you speak to a lender they are pre approving you and not pre qualifying. There is a big difference between the two. Pre qualification is simply telling a lender how much you make, how much money you have saved, credit profile, etc. Based on that they'll say you're prequalified. Preapproval you're actually submitting paystubs, w2's, bank statements and having your credit report pulled and reviewed by us. The process is quick, when someone sends me that information I can have them preapproved, or tell them they have some work to do before getting preapprove, within 30 minutes.
3 votes
Michael N., Other Pro, Bucks, AL
Fri Mar 11, 2011
below is a Home Buyer Checklist

• Get a copy of your credit report and correct any errors
• Reduce your consumer debt - pay down credit card balances.
o Pay off the debt with the highest interest rate first.
• Determine how much you can afford to pay for a home. Decide how much you are willing to spend for a home.
• Can you afford the down payment (FHA 3.5%, conventional 5-20%)? Don’t forget closing costs, moving costs, and having a small cash reserve for emergencies.
• Get familiar with basic mortgage terms
• Shop around local and national banks for best rates and programs.
• Get pre-qualified for a mortgage loan
• Research neighborhoods that you want to a house (drive & online)
o Location, schools, crime, etc.
• Interview real estate agents who specialize in the neighborhoods where you want to buy a house
• Get pre-approved for a mortgage loan
• Visit homes and make notes/pictures
• Once you find a house you like, have your real estate agent determine the price you should offer. Look at comparable houses the sold in the last 6 months.
o Compare square footage, lot size, bedrooms, baths, garage, basement, condition of the home, etc.
o If your house is dated you should offer less than a newer renovated home.
• Have real estate agent write the offer
• Complete all mortgage loan application requirements
• Hire a home inspector to examine the house & be there for the inspection. You will learn a lot about the house.
• Get agreement on repairs to be made by the Seller
• Inspect repairs and handle other details prior to closing day (settlement).
• Hand over a certified check for the down payment and pick up the deed for your home.
3 votes
John Sacktig, Agent, New Jersey, NJ
Wed Mar 16, 2011
I would find a Realtor that you are comfortable with first, then ask for referral of a mortgage person that they know is competitive in the area and can get a mortgage closed.

Most Realtors that are working have tabs on what Mortgage reps can do what... from Mortgage Brokers to big Banks..

Your Realtor will know!
2 votes
Tammy Hayes, Agent, Port Charlotte, FL
Fri Mar 11, 2011
Here are some helpful tips to get you started on the right path as a first time home buyer.

1. The first step before you do anything is to find out how much money you can borrow from a bank/mortgage company. Check with different lenders to see who can get you the best deal. Once you know what you can afford, then you can begin to plan.

2. Determine what you need in a home, not necessarily what you want in a home. Make a list of those needs to give to your Realtor. When you are searching for homes you will find that it is very rare to find a home that has absolutely everything you are looking for. If you stick to what you actually need, you will have better success in your search.

3. Research areas/communities that are of interest to you. Determine what things are important such as schools, proximity to shopping, restaurants, and local activities. Drive through the communities to get a feel for what they are like.

4. Learn as much as you can about the process of buying a home. Some local Realtors or lenders will offer first time home buying seminars. If you can find one in your local area it would be helpful to attend. If you cannot attend a seminar, look on the Internet for a home buyers guide such as the one at Bankrate.com - http://www.bankrate.com/brm/news/real-estate/BuyerGuide2004/…

5. Select a local Realtor to help you begin your search for a home. You can search Internet sites such as Realtor.com or Homes.com, but a Realtor has access to all of the homes in the local MLS. They can provide you with information on the home, the area and answer any questions you may have. A Realtor can show you properties of interest.

6. Learn about the contract and what is involved. Your Realtor can take you through step by step the process of a contract. After it is signed by buyer and seller, it is called an executed contract. Then you would want to get a home inspection. If everything is fine with the inspection, then you can go forward towards closing.

7. Know what happens at closing. Again, a Realtor can walk you through what to expect at closing. You will need to have money for closing costs such as title search, processing fees, taxes, and insurance.

Buying your first home is an exciting and overwhelming experience. So make sure you are prepared.

Tammy Hayes, Realtor, Sandals Realty, Punta Gorda, FL tammyhayesre@gmail.com
2 votes
Joseph Cafie…, Mortgage Broker Or Lender, Philadelphia, PA
Sun Mar 6, 2011
Jenkintown...Unless you are buying all in cash you really should start with a lender and find out exactly what you are pre-approved for. Guidlelines are changing all the time. There is no way a realtor is able to keep up on all the latest changes. last thing you want to do is get your hopes up on a house that you will not be able to buy. Would be happy to assist you in this matter

Joe Cafiero
Superior Home Mortgage
610-594-6611
jcafiero@supmort.com
Web Reference:  http://www.joecafierosmc.com
2 votes
David Cooper, Agent, Los Angeles, CA
Fri Apr 1, 2011
As a first time homebuyer, you will need as lot of hand holding. Giving your financial info to a mortgage lender you don't have a business relationship is just NOT smart. How will you know who the best mortgage lender is? Picking one from TV commercial that promises the lowest rate makes you a candidate for "bait and switch"

If you find a well established agent with number of successful sales, the agent will have a working relationship with a lender that won't screw you around, because he will be burning bridges with someone who bring him lots of business.


David Cooper. Las Vegas Foreclosure Investor in Bank Owned Cash flow Houses. FReee List +1-7024997037...
not a real estate agent. ask about limited partnerships
1 vote
Julie Anne Y…, Agent, Spokane, WI
Wed Mar 30, 2011
I suggest getting a FULL TIME Realtor who has great working relationships with lenders. Your Realtor can start the process with you which will help you get moving in the right direction. A good Realtor knows about the loan process and how lending laws are constantly changing which also leads to the Realtor knowing who in the lending game does not have a very good reputation. Experienced Realtors and experienced lenders go hand in hand to get to the closing table with the least amount of stress.
1 vote
Tara Rucci, , 19382
Wed Mar 30, 2011
I would recommend finding a mortgage professional first. If you can not find one, then contact an agent to help you with some referrals. The first step in purchasing a property is to get a pre-approval from a mortgage lender. The mortgage professional will assist you in determining how much you can actually afford to spend. A realtor may not require this prior to showing you properties, if you look at properties you can not afford to buy then you are wasting your time. It is very important that your realtor work with your mortgage lender to assure that you can actually purchase a property you are interested in. There are many factors that change with each property or time you consider purchasing some variable include, property taxes and interest rates. Good luck with your search.
1 vote
Jeff Hazuga, Agent, Menomonie, WI
Sun Mar 27, 2011
Being a broker/realtor for several years if I were to purchase in a new area I would contact a few agents and ask them what they will do for me and why I should work with them. A good agent will connect you with at least two or three mortgage specialists. I have two lenders that I always recommend and 90% of the time the buyers go with one of them. Your realtor should explain the entire process to you and I feel it is the agents responsibility to guide you through all the phases of the transaction.
Many people will say to get a pre-approval first but I often meet with buyers that have letters from lenders that aren't worth the paper they are printed on. This can be a problem because buyers may think they are approved to buy when they really are not . Its nice to know exactly what the buyer can afford and to not have any suprises prior to closing. By getting an approval from someone the agent works with on a regular basis is a good way to make sure that the process is a smooth and enjoyable one.

-Jeff Hazuga
1 vote
Christopher…, Agent, Tarrytown, NY
Fri Mar 25, 2011
Hi, You will want to get yourself pre approved before looking at homes. The main reason is you have no idea what the banks are willing to lend you so you don't want to waste your time look at homes that don't fall in your price range. Another factor is you don't want to fall in love with something only to find out you can't afford it.

Good luck!

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
914.406.9023
Web Reference:  http://raveis.com/chrispagli
1 vote
Lurey Taylor, , Key West, FL
Wed Mar 23, 2011
great question! Knowing how much of a home you can afford before looking at properties helps you and your Realtor find what meets your budget. There is nothing worse than finding the home you want and then finding out you can not afford it. A Realtor can help you find the right lender, so the answer to your question is to find a Realtor who is willing to get you started in the right direction.
Web Reference:  http://www.lureytaylor.com
1 vote
Stuart Waymi…, , Lake Las Vegas, Henderson, NV
Mon Mar 21, 2011
A good realtor will have a lender or three to recommend. However, you should also be shopping lenders for the best deal, after all, it is your money. For myself, my lender recommendations always are given with the caveat that my buyer should investigate any resource they can find and they shouldn't feel locked in to anyone I suggest.. However, the advantage in using someone I suggest is that I usually have a track record with them, so I wouldn't ignore realtor suggestions either.
1 vote
Omar Sebasti…, Agent, Hoboken, NJ
Fri Mar 11, 2011
Hello,
as both an agent and an investor, I find myself a very good agent that has knowledge and one that returns calls fairly fast. Personally I think a three hour turn around time is good, avoid the ones that are bad at communicating. Once you have picked one, ask them to recommend a lender (to pre-qualify you) since many of us work with certain ones we like. Use the agent's contacts for all the steps, i.e. inspectors, attorneys, etc...
I'm not opposed to using newly licensed agents if they have a strong support team, meaning their broker is "on the ball" and knows the market and will look out for your best interest. Many times the newbies are good because they can focus on you and work hard! They will use their broker's professional contacts.

Good luck
1 vote
My NC Homes…, Agent, Chapel Hill, NC
Fri Mar 11, 2011
As a Realtor I am thrilled when a buyer has taken the time in advance to sit down with a lender and get themselves preapproved for a mortgage before they come in and speak with me. When this happens I know that i have a serious buyer who in fact can buy and is ready to go. When a buyer comes in and sits down with me first I will explain the home buying process to them. I will explain my services and how I work. I will find out what you are interested in and what is important to you in terms of a house, location, school districts etc and then I will send you back out to sit down with a lender to get preapproved.

Realtors cannot tell you whether you can get a mortgage or not, nor will they know what type of a loan you might qualify for and knowing what type of loan you might be getting is important as we need this information when preparing an offer. Some loans require the Seller to contribute to your closing costs, others do not,. Some require the property to meet certain guidelines, again others do not.

I would advise meeting with a loan officer is the best way to get started. When looking for an agent look for one the specializes both in buyer brokering and in working with first time home buyers.

I wish you good luck and happy house hunting.
1 vote
Edmund Choi, Agent, Paoli, PA
Sun Mar 6, 2011
If you currently have a banking relationship, you should obtain an initial pre-approval with them and "shop around" during the property identification phase to establish that you are receiving the best terms. If you do not have a banking relationship, reach out to an agent, after you have selected him/her to be your buyer's agent, and ask for several referrals; your agent will serve to be your "resource center" in all aspects of the transaction. Good Hunting!
Web Reference:  http://MainLineandBeyond.com
1 vote
Benjamin Car…, , Las Vegas, NV
Sat Mar 5, 2011
If you know who you are going to use for a lender, speak with them and get prequalified first. If not your Realtor should have a team of lenders for you to choose from, depending on your situation. Although most Realtors will help guide you in the right direction for your financing, their area of expertise is finding you the house that best fits your needs. You should do some research and find out how much you are going to be prequalified for so your Realtor knows the basic price range to be looking for. When you need a plumber you call a plumber.
1 vote
Alan Openshaw, Mortgage Broker Or Lender, Southampton, PA
Sat Mar 5, 2011
Hello Jenkintown homebuyer,

To be honest it is six of one and half a dozen of the other. A Realtor will not show you a home until you have a pre-approval. Most Realtors have preferred lenders that they work with and so they will refer you to in house mortgage lenders or brokers that they work with. I am not going to mention specific lenders but some are better than others. I suggest you get pre-approved first. Find a someone that will give you excellent personal service and be with you at settlement. Like I will.

Best Regards,
Alan Openshaw
Cornerstone Lending Inc
720 Second St Pike Suite 104
Southampton Pa 18966
Office 215 953 0800
Fax 215 953 1706
Cell 267 992 7276
Voted Best of Bucks 2010
1 vote
Jeremy Micke…, Home Buyer, Parkers Prairie, MN
Sun Jun 26, 2016
what happens when you use your own agent and not the listed on that property?
0 votes
Jeremy Micke…, Home Buyer, Parkers Prairie, MN
Sun Jun 26, 2016
I am a first time home buyer and have been per-approved by my bank. I have a real estate agent I have been working with. Does my agent work with my bank? My banker told me to peruse my dreams and help me through the process. I have found a home that I really want, what should I do first and foremost? How long should this process take once my offer is accepted? .
0 votes
Tom, , Charlottesville, VA
Mon Apr 25, 2016
I'd suggest talking to a lender first and getting pre-approved. That does a few things: let's you know how much you can borrow for the mortgage and let's the realtor know you are serious.
0 votes
Jenkitown, Home Buyer, Jenkintown, PA
Tue Feb 9, 2016
I notice a lot of agents and realtors are telling you to get an agent. Most of them say get pre-approved first. While this is true they are not telling you of another way to get a mortgage. Go with your credit union as you will get better rates.
0 votes
Trevor Curran, Mortgage Broker Or Lender, Great Neck, NY
Sat Aug 25, 2012
First steps:

1. Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.


2. Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.

3. Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.

4. Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.

Put together your Team of real estate professionals and shop 'til you drop!

Good luck!
Trevor Curran
NMLS #40140
0 votes
Monique Snel…, Agent, Mishawaka, IN
Wed Aug 22, 2012
Hello,
I would start where you are most comfortable. I usually tell my clients to start at the bank they usually use. If you have an agent, then get some other lenders names so you have some choices. I would always suggest going first to get approved before looking at homes. You don't want to waste your time looking in the wrong price range. Plus, if you have an approval letter, it helps the process go quicker and makes a seller look at your offer more closely than someone who writes an offer without being approved.
Best of luck and happy home buying
0 votes
Zurab Kvantr…, Agent, Jenkintown, PA
Thu Jun 2, 2011
I would recommend to Choose a full-service company that has a mortgage division like Weichert Realtors, we got Weichert Gold Services and we are able to give you a loan pre-approval, in writing.

Please email me (zkvantrishvili@weichert.com) and I'll shcedule an apoitment for you or you can just visit us

93 Old Your rd, suite 6
Jenkintown, PA, 19046
0 votes
Linda Walters, Agent, Wayne, PA
Fri May 20, 2011
The key is to do BOTH before you go out looking at houses. I always steer my clients to a good local lender who gives great advice and then we shop the rate after the deal is signed. That was we have a pre-approval letter we can use with the offer and it keeps that lender honest with the rate they offer my clients.
Web Reference:  http://www.FindAHomeinPA.com
0 votes
Andrea Mills, Agent, Sebring, FL
Fri Apr 1, 2011
Get a mortgage lender first. Before you can purchase a home, you need to have financing in place. It will also help you determine how much home you can afford.
0 votes
Allgardengro…, , Garden Grove, CA
Fri Apr 1, 2011
Find a professional Realtor first. They are trained to guide you with your search for a perfect home from start to finish. These professionals can advise you through the different stages of acquiring your home such as explaining the legally required contracts and disclosure forms. They can also represent you throughout the home buying process and act as an advocate for you.

I just wrote a blog on a step-by-step guide in acquiring a home. This guide will walk you through the buying process, giving you insights on what to look for and what pitfalls to avoid.

Hope this helps. Happy house hunting!!!
0 votes
Rick Lindemu…, Agent, Carnation, WA
Wed Mar 30, 2011
I would speak with an agent first but would not start searching for properties until you had spoken to a couple different lenders. An agent can help you with what questions to ask and what to bring to the lender. They can also suggest reputable lenders and review materials from the lender.
Web Reference:  http://wahomesandacreage.com
0 votes
Lupita Areva…, Agent, Tucson, AZ
Wed Mar 30, 2011
I will say a Real Estate agent and They can help you find a morgage to fit you're needs and explain the process on the purchase of a new Home I am a Realtor for 18 years in tucson Lupita 520-312-0306
0 votes
Ann Stevens, , Wake Forest, NC
Wed Mar 30, 2011
I would speak to a mortgage lender, but not just one. You should speak with several without providing all of your detailed financial information, in other words, shop for the best interest rates, closing costs and fees. Then once you choose the lender, you can obtain pre-approval and know how much house you can afford.
0 votes
dfgfdgfdgfgdf, , 64468
Wed Mar 30, 2011
I would suggest getting in touch with a Realtor first. They can help guide your way from there. If you decide to get prequalified forst there is no harm in that either.
0 votes
Sarah Montes, , Dallas, TX
Wed Mar 30, 2011
GET YOUR FINANCING FIRST! THIS WILL GIVE YOU BUYING POWER!

CALL ME FOR A QUOTE TODAY!

SARAH MONTES
(972) 455-2004
0 votes
Bonnie Rivkin, Agent, Alexandria, VA
Wed Mar 30, 2011
You can get in touch with a Realtor and see if they had lenders that they could recommend that clients of theirs has positive relationships with. Getting preapproved does not lock you into using that lender, but you can ask for a list of local lenders from your agent.
0 votes
Judy Pfeiffe…, Agent, Mebane, NC
Wed Mar 30, 2011
Do your homework first, talk with a lender to first find out what you are qualified to purchase, nothing is more frustrating then looking at a home you can not afford. It's important for you and for the agent you decide to work with, to know what price range you are comfortable with. Although I said, talk with a lender initially, that does not mean you are totally committed to that lender. Once you start looking at homes, you can shop around to find the lender that has a program that works for you. In our area, agents will not present an offer to a seller unless there is a letter from a lender. Hope this helps!
0 votes
David Cooper, Agent, Los Angeles, CA
Wed Mar 30, 2011
The radio commercial for lenders are getting louder and louder, with each promising lower rates and easier qualifications. There were a lot of tricky lenders during the "bubble" who used "bait and switch" promising one low rate and then things changed. I prefer the combination real estate agent working with their experienced lender. The lender is less likely to mess up when they are doing regular business for an agent


David Cooper. Las Vegas Foreclosure Investor in Bank Owned Cash flow Houses. FReee List +1-7024997037...
not a real estate agent. ask about limited partnerships
0 votes
James Vandeck, Agent, Pittsburgh, PA
Wed Mar 30, 2011
Definitely, get a realtor first. Choose a full-service company that has a mortgage division.Then the mortgage BROKER should be able to give you a loan pre-approval, in writing. You might even try hooking up with a nation-wide referral company. They will introduce you to an experienced agen who knows the territory.
No charge for this service...

email me and I'll give you some valuable info....

jimbo7777_99@yahoo.com

Include your address and I'll send you some free info on homebuying...


james
0 votes
Greg Evans, Agent, Lake Saint Louis, MO
Wed Mar 30, 2011
Your first stop should probably be a mortgage lender. If you don't know any good ones, in many cases, a real estate agent can give you a referral. In most cases, you should talk to 2 or 3 lenders before settling on one, comparing costs, fees, etc. I am always leery of online lenders, if something goes wrong, it's nice to be able to walk into the office and talk to someone! Be aware, if you DO look for an agent first, most of the time, they will ask if you have spoken with a lender. It doesn't do ANYONE any good to look at homes you can't buy.
0 votes
James Orr, Agent, Fort Collins, CO
Mon Mar 28, 2011
My answer was VERY different because only 1 or 2 agents out of 100 REALLY understands how to work creative transactions with buyers and sellers. It is the reason why I am putting together a non-profit to educate buyers, sellers and agents.

There was an article a couple days ago on Realtor.org showing this growing trend (that most agents are ignoring at their our peril):

http://www.realtor.org/rmodaily.nsf/pages/News2011032501
0 votes
Carl Ben Wit…, Agent, Upper Montclair, NJ
Mon Mar 28, 2011
I like this blog or thread. No one reads the previous answers because they are essentially the same. 118 answers and counting. Now lt's hear from the poser- Jenkintown.
0 votes
David Cooper, Agent, Los Angeles, CA
Sun Mar 27, 2011
Don't give out your financial data to any lender without knowing the Realtor you are going to work with. If you go out shopping lenders, your credit score gets effected, and you might not get the best possible service. I like to know the Realtor I trust and a lender he trusts. That way, less information gets put out on me and the service I receive is much better


David Cooper. Las Vegas Foreclosure Investor in Bank Owned Cash flow Houses. FReee List +1-7024997037...
not a real estate agent. ask about limited partnerships
0 votes
Tom Schroeder, Home Owner, Mabelvale, AR
Sun Mar 27, 2011
I always tell Buyers to get pre-approved first. This way you know your price range for homes and you won't get dissapointed when you fall in love with a house you can't afford.
0 votes
Sam, , Venice, FL
Sun Mar 27, 2011
I believe if you contact a Realtor in the area you wish to buy, she or he can give you advice pertaining to steps necessary to purchase a home. Many Realtors have good contacts specializing in the mortgage you qualify for, such as, VA, HUD, Convential,etc. The right Realtor can help take the stress out of purchasing your frist home, which should be exciting not stressful.
0 votes
Judy Sharma, Agent, Grover Beach, CA
Sun Mar 27, 2011
I think first step should be a lender. Once you pre-approved, you know how much money you have to shop. Then, you can find a realtor who can show you homes in your price range and liking.
0 votes
Dolores Zara…, Agent, Mesa, AZ
Sun Mar 27, 2011
You may already know a Realtor, in which case I would recommend you contact them first. We all know several Lenders and would be happy to recommend them. It is always best to know how much you can afford comfortably before you actually start your home search.
Web Reference:  http://www.azhomes-4-you.com
0 votes
Barb Johnson…, , Champaign, IL
Sat Mar 26, 2011
Yes. You will want to be pre-approved before you begin your search for a home. A lender will be able to tell you how much you qualify for. So many people start looking for a home before they know how much the bank will lend them. If you started looking in a higher price range than you can afford, you could be setting yourself up for disappointment. Also, you want to be in a position to buy as soon as you do start looking. If you find the house of your dreams but you can't make an offer because your not approved, you could lose out to another buyer who is approved.
0 votes
Donna Moulton, Agent, Tucson, AZ
Sat Mar 26, 2011
As a realtor, I will say that the transaction always goes more smoothly when the buyer uses a lender I recommend. If a buyer goes to their credit union because they want to support local business, they find that after taking the loan application, the local loan officer will transfer handing of the loan to someone out of town or even out of state. This always means that we will not close on time because the lender doesn't allow time to move paperwork intercity by Fed Ex. I have also learned that credit union loan officers don't work evenings and weekends, when you need them most. As a realtor who is available when my clients need me, I don't have much sympathy for loan officers who work banker's hours.

Internet lenders can offer bait and switch. If what they are offering sounds too good to be true, it most definitely is.

If you use a local mortgage broker who has a relationship with your realtor, that mortgage broker is going to be very motivated to do an excellent job for you and earn your repeat business and referrals. Chances of you closing on time with no surprise changes to the terms are increased when you use a mortgage broker who has worked hard to earn your realtor's trust.

To find a realtor, talk to your friends. Everyone has either had good or bad experiences with reatlors, or they have heard good and bad stories from their friends.
0 votes
Kimberly Wha…, , Houston, TX
Sat Mar 26, 2011
I would think a lender would be your first step. That way you know if you can even qualify and know how much you can qualify before you start looking for a house.
0 votes
Jennifer Tol…, Agent, Lewisburg, WV
Sat Mar 26, 2011
I recommend you contact a REALTOR and ask them for advise to become prequalified. A REALTOR knows the lenders in your area and are familiar with which ones can help you for your specific need. It is important before you begin house hunting that you know your finances, you will know what price range of houses to look at and it also give you better negotiation with a seller when you have your financing letter in hand.
0 votes
Pat Tingle, Agent, Crossville, TN
Fri Mar 25, 2011
Because there are so many homes on the market at this time, the best way for me to help you find a home is to know what price range we are working with. The only way to know that is to talk to a financial institution. A good mortgage broker can help you understand what you need to do financially in order to purchase a home.
0 votes
Sarah, Home Seller, Appleton, WI
Fri Mar 25, 2011
I contacted a realor first then she told me about a good mortgage officer!
0 votes
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