“I am thinking about buying a home! Can we go look at houses?”
Thats one of the most common questions I get from Karina and I’s friends who are thinking of buying a home. The answer to this question is…OF COURSE!… But you have to meet with a lender first.
Its really important to know how much house you can afford before we go see houses. Its always a bummer when I show friends a house they love and then we find out they can’t afford their dream home.
So how do you know how much house you can afford? You meet with a mortgage guru, and preferably a local one so your meeting can be face to face. The Mortgage Broker/Banker will run your credit, ask about your income, your expenses and give you a ball park figure of how much money they will lend you. You should walk out of the meeting knowing how much home you can afford to buy and how much money it will cost you to close a loan. Now we can go shopping for property, property you may live in!
While we are shopping for your next home I would recommend meeting with 2 additional lenders. A Mortgage Broker, a Local Bank and a National lender are all good options. By doing so you will have a better idea of who you would like to work with on your loan and which company offers the best value to secure your loan.
I have a rolodex full of Lenders who would like to work with you, and some of them are better than others, so if you would like a recommendation don’t hesitate to call me up! It also may be helpful to play with the mortgage calculator to the right to see what your monthly payment may be.
So lets take the first step in buying your new home. Contact me here!
