There are many steps in the home buying process. But one thing you should do before even shopping for a home, is speak to a lender. Many people hesitate to speak with a Lender or get Pre-Approved before they start house shopping. Some think pre-qualification is sufficient. Below are a few reasons it may be wise to consider your mortgage loan before meeting with an agent:
Setting a realistic price point saves time & reduces opportunity for disappointment
Let’s say you find the house of your dreams. It’s everything you want in a home and you decide to go for it. You set up a showing with your agent and decide to put in your offer. At that point, you could go for Pre-Approval and discover you cannot be approved for the loan needed to secure the house. Opportunity lost. Dreams dashed. Time wasted. It’s best to not just know your preferred price range, but also to know what your financial capabilities are.
Being pre-approved increases your chance of getting the house you want, when you want it
Being Pre-Approved, for whatever amount, increases your chance of getting the house for which you put in an offer- especially in today’s hot market. If you are going up against another home buyer who is Pre-Approved and you are not, chances are great they will get the home. In any situation being Pre-Approved shows the Seller or agent you are serious about buying and have the funds readily available.
Speaking to a Lender helps prepare you for unexpected costs
Some Sellers will pay some or all of the closing costs, but in most cases you will have to pay 3-5% of the home’s cost. Getting an idea upfront of the fees, taxes and inspections will help you prepare by getting a loan not just for the home’s price but also for closing costs.
Having a financial baseline in mind is smart (and necessary), but finding out how you much really can afford is wise and provides standing when you find a home for which you want to put in an offer. Consider speaking with a lender before you begin your home search. Here at Carolina One we have a knowledgeable mortgage team that can check your financial status, help you boost your credit score to get a better rate or show you areas that need to be worked on in order to qualify for a loan. Contact us for assistance in setting up an appointment, and after you become pre-approved, contact us to help you find your home!
price of neurontin walmart
March 22, 2024 at 12:29 pm
price of neurontin walmart
price of neurontin walmart
amoxicillin contraindications
March 22, 2024 at 3:18 pm
amoxicillin contraindications
amoxicillin contraindications
ddavp how does it work
March 22, 2024 at 4:56 pm
ddavp how does it work
ddavp how does it work
how to stop effexor weight gain
March 22, 2024 at 8:38 pm
how to stop effexor weight gain
how to stop effexor weight gain
flexeril and xanax
March 22, 2024 at 8:59 pm
flexeril and xanax
flexeril and xanax
cartia xt vs diltiazem
March 22, 2024 at 9:11 pm
cartia xt vs diltiazem
cartia xt vs diltiazem
augmentin dosage for sinus infection
March 22, 2024 at 9:26 pm
augmentin dosage for sinus infection
augmentin dosage for sinus infection
diclofenac gel dosage
March 22, 2024 at 9:54 pm
diclofenac gel dosage
diclofenac gel dosage
citalopram black box warning
March 23, 2024 at 2:24 am
citalopram black box warning
citalopram black box warning
contrave 8 mg-90 mg
March 23, 2024 at 2:49 am
contrave 8 mg-90 mg
contrave 8 mg-90 mg
depakote for migraine
March 23, 2024 at 2:54 am
depakote for migraine
depakote for migraine
side effects of ezetimibe tablets
March 23, 2024 at 4:00 am
side effects of ezetimibe tablets
side effects of ezetimibe tablets
what doses does flomax come in
March 23, 2024 at 7:53 am
what doses does flomax come in
what doses does flomax come in
what is cozaar for
March 23, 2024 at 8:54 am
what is cozaar for
what is cozaar for
aspirin and alcohol
March 24, 2024 at 9:27 pm
aspirin and alcohol
aspirin and alcohol
how long does it take for allopurinol to lower uric acid levels?
March 24, 2024 at 9:41 pm
how long does it take for allopurinol to lower uric acid levels?
how long does it take for allopurinol to lower uric acid levels?
aripiprazole moa
March 25, 2024 at 1:37 am
aripiprazole moa
aripiprazole moa
amitriptyline side effects elderly
March 25, 2024 at 2:11 am
amitriptyline side effects elderly
amitriptyline side effects elderly
buspar dosage for sleep
March 28, 2024 at 6:44 pm
buspar dosage for sleep
buspar dosage for sleep
bupropion and lexapro together
March 28, 2024 at 6:48 pm
bupropion and lexapro together
bupropion and lexapro together
baclofen wikipedia
March 28, 2024 at 7:43 pm
baclofen wikipedia
baclofen wikipedia
celexa lexapro
March 28, 2024 at 7:43 pm
celexa lexapro
celexa lexapro
celebrex black box warning
March 28, 2024 at 8:31 pm
celebrex black box warning
celebrex black box warning
how to take augmentin
March 28, 2024 at 9:35 pm
how to take augmentin
how to take augmentin
repaglinide transdermal patch
April 14, 2024 at 12:40 pm
repaglinide transdermal patch
repaglinide transdermal patch
semaglutide the same as ozempic
April 14, 2024 at 1:04 pm
semaglutide the same as ozempic
semaglutide the same as ozempic
remeron for appetite stimulant
April 14, 2024 at 2:52 pm
remeron for appetite stimulant
remeron for appetite stimulant
does robaxin show a positive in a urine drug test
April 14, 2024 at 4:09 pm
does robaxin show a positive in a urine drug test
does robaxin show a positive in a urine drug test
acarbose administration
April 15, 2024 at 5:15 am
acarbose administration
acarbose administration
abilify antipsychotic
April 15, 2024 at 5:31 am
abilify antipsychotic
abilify antipsychotic
how long for protonix to work
April 15, 2024 at 7:36 am
how long for protonix to work
how long for protonix to work
propranolol lactose-free
April 15, 2024 at 9:29 pm
propranolol lactose-free
propranolol lactose-free
buy ivermectin cream
April 19, 2024 at 9:13 am
buy ivermectin cream
buy ivermectin cream
can i use voltaren when taking eloquis
April 19, 2024 at 3:47 pm
can i use voltaren when taking eloquis
can i use voltaren when taking eloquis
percocet and tizanidine
April 19, 2024 at 5:58 pm
percocet and tizanidine
percocet and tizanidine
tamsulosin hytrin
April 19, 2024 at 9:01 pm
tamsulosin hytrin
tamsulosin hytrin
spironolactone yeast infection
April 19, 2024 at 10:02 pm
spironolactone yeast infection
spironolactone yeast infection
synthroid eyelids
April 20, 2024 at 1:46 am
synthroid eyelids
synthroid eyelids
venlafaxine drug class
April 20, 2024 at 8:38 am
venlafaxine drug class
venlafaxine drug class
sitagliptina y sitagliptina
April 21, 2024 at 12:42 am
sitagliptina y sitagliptina
sitagliptina y sitagliptina