Stumped? I’ll give you a hint, it’s not looking at houses. I would accept “contact a Realtor” but that’s not exactly what I’m looking for.
The correct answer is to contact a mortgage lender and get a “Pre-Approval” letter. Not all lenders are created equal so be careful with this part. It may be tempting to contact your bank or credit union but that is not always the best choice. Contact me and I’ll help with this part.
Here are the top 3 reasons you should get a “Pre-Approval ” letter.
1. Speaking to a lender will help you determine how much you can spend on a home. It’s no fun trying to pick a $200,000 home after you’ve seen some $300,000 homes.
2. If you wait until you find the perfect house before you contact a lender, someone may buy it while you are talking with your lender.
3. Sellers will not accept an offer from a potential buyer before they know if that buyer is qualified to buy the house. Sellers do not want to waste time with unqualified buyers or waiting on buyers to get qualified.