If you plan to shop for a new home anytime in the next few months it’s not too early to meet with a quality lender to discuss your financing options.
Buyers sometimes mistakenly think that this is not something they need to do until they have selected a home and received an acceptance of their offer.
Top real estate agents agree that when they present an offer to purchase to their sellers the strength of the buyers qualification has a serious impact on whether or not their offer is accepted. In the case of a multiple bid situation it may be the critical deciding factor.
Another advantage to meeting with a lender before your home search begins is to confirm your credit score and follow any of your lenders recommendations to prepare to put your best financial foot forward. This will help insure you qualify for the loan amount you need to buy your dream home. A credit score of 680 or higher is ideal and even if you think you know what your score is it may have changed and it’s best to have a current rating.
Having your pre approval in hand will and help you feel comfortable that you are shopping well within your budget and allow you to know how high you can go if competing against other offers.
It’s also important to give you lender permission to communicate with your real estate agent so that they can work as a team to help you win the negotiation and close the deal quickly and without stress.
Lenders can usually with a fair amount of accuracy predict the interest rates over the next few months to help you time the market to get your best rate.
You can email me and I will be happy to refer you to some of the best lenders in our local market who have the most competitive rates and the most outstanding service!