Whether you are buying your first home or your 100th home you need to work with professionals. You will need professional real estate people, professional title insurance people and professional mortgage people, to name a few. Each and every one of these people has very specific jobs to do and remember that they work for you, not the other way.
As a mortgage professional I strongly suggest that you meet with me before you meet with anyone else. You need to meet with me or any qualified and licensed mortgage professional prior to a real estate agent.
The reason to me is simple. I am the one to sit down with you, the buyer, to determine how much of a home you can afford to buy. I am the one to sit down with you and go over your credit report to determine if your credit history will allow you to obtain a mortgage at an acceptable rate.
Why waste your time thinking that you can afford something that you cannot afford? Why waste your time looking at property for sale if your personal credit is to the point where you need to spend a month or two getting your report corrected? The answer is simple: you meet with your mortgage professional first so you know exactly what you can afford to buy.
The second person you meet with is a real estate agent. Like the mortgage professional you inform them how much you can afford and where you want to look for property. Also, make a list of your needs and your wants. On this list you need to be realistic in making this list. If your budget is only $150,000, you know that you are not going to find a new five-bedroom condo slopeside, so be realistic. But, if you need a garage to store your prized auto, make sure your real estate agent knows that fact right up front.
Now, on to the professionals you need to utilize after you have found that perfect fit of a home. Talk to your mortgage professional and your real estate agent on who they recommend. If your best friend is an insurance agent, by all means use them.
Now here is the point that you need to read very closely. All of these people are working on your behalf, or they should be working on your behalf. If you have a question, ask it. If you get an answer that you are not sure of, ask the question again, and again, until you are confident that you understand the answer. Once again, all of these people are working for you and your behalf. If you are unhappy with the treatment you are receiving, consider firing that person. If they are not doing their job make sure that they do not get paid for not doing their job.
Now, finally, all of the people involved in the process of helping you obtain your goal of buying a home need to work as a team. Your mortgage banker must be a full-time mortgage banker, your real estate agent must be a full-time real estate agent and your insurance agent must be a full-time insurance agent. If you break a leg on the mountain you surely do not look for a part-time surgeon, so use full-time experienced professionals for what might be the biggest purchase of your life.
For answers to your mortgage related questions call Bob Kieber at (970) 453-4700 or email him at firstname.lastname@example.org. Bob is a local mortgage lender with Centennial Bank. He has 30-plus years of professional experience in real estate, finance and investments, and is a longtime resident of the High Country. Member FDIC, Equal Housing Lender. NMLS Bank #401640 Broker #289610. For tax benefit information please consult with a professional tax advisor. The opinions expressed are those of the individual, and do not necessarily reflect those of Centennial Bank.