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By meeting with your mortgage professional right up front, you have started the process to get prequalified for a mortgage. By taking this simple step you will know approximately how much of a mortgage you can obtain and you will know the various mortgage programs that can work for you.
If by chance you have to dig out old personal financial records, and you have time to do so, you will have an upper hand if your offer to buy that special home comes along. With a letter from the mortgage lender stating that you are qualified to buy the home, your chances of having your offer accepted have been greatly improved.
Here are couple steps that you should take from the beginning. Interview real-estate agents and lenders. One of the biggest mistakes that buyers make is using the first agent or lender they meet. Interview a couple of agents and a couple of lenders. Remember, they are working on your behalf. If you are uncomfortable with the answers you receive, then is the time to move on to someone that you are comfortable with. Why pay for services from someone that is not working for you and your best interests?
Do your “due diligence.” Your real-estate agent, your lender and the title company will supply you with enough reading material to fill a small trash can. Review the documents and ask questions. Remember that these people see these documents all the time and their expertise in picking out potential problems can save you time and help avoid problems later.
Ask questions and expect answers. If they do not know the answers, they should offer to find out the answers. If they do not make that offer fire them and find someone that will actually work for you.
Be prepared to be overwhelmed. There will be lots of documents and lots of things to consider when you are making one of the biggest investments in your life. Plan on asking a lot of questions and expect to get answers. Feel free to be confused and expect that your real-estate agent, lender, appraiser and title company are there to help you understand the process.
The bottom line is to be prepared and to use the expertise of the people you hire to work for your benefit.
Bob Kieber can be reached at
(970) 262-1199 or at rkieber@comcast.net. He is a local mortgage lender and
principal of Resort Lending.
If by chance you have to dig out old personal financial records, and you have time to do so, you will have an upper hand if your offer to buy that special home comes along. With a letter from the mortgage lender stating that you are qualified to buy the home, your chances of having your offer accepted have been greatly improved.
Here are couple steps that you should take from the beginning. Interview real-estate agents and lenders. One of the biggest mistakes that buyers make is using the first agent or lender they meet. Interview a couple of agents and a couple of lenders. Remember, they are working on your behalf. If you are uncomfortable with the answers you receive, then is the time to move on to someone that you are comfortable with. Why pay for services from someone that is not working for you and your best interests?
Do your “due diligence.” Your real-estate agent, your lender and the title company will supply you with enough reading material to fill a small trash can. Review the documents and ask questions. Remember that these people see these documents all the time and their expertise in picking out potential problems can save you time and help avoid problems later.
Ask questions and expect answers. If they do not know the answers, they should offer to find out the answers. If they do not make that offer fire them and find someone that will actually work for you.
Be prepared to be overwhelmed. There will be lots of documents and lots of things to consider when you are making one of the biggest investments in your life. Plan on asking a lot of questions and expect to get answers. Feel free to be confused and expect that your real-estate agent, lender, appraiser and title company are there to help you understand the process.
The bottom line is to be prepared and to use the expertise of the people you hire to work for your benefit.
Bob Kieber can be reached at
(970) 262-1199 or at rkieber@comcast.net. He is a local mortgage lender and
principal of Resort Lending.
