Are you paying with cash or will you need to secure a mortgage loan? The most important step before beginning your home search is to get pre-qualified by a reputable lender or mortgage broker.
Why is this so important?
- It allows you to determine how much your monthly payment will be
- It helps your real estate agent to determine what price range to shop within
- It gives you an estimate of how much money you will need to bring to closing
- As a pre-qualified buyer, sellers will find your offer more attractive knowing that you can secure a mortgage loan. This may help your offer beat the competition in a multiple offer situation!