STEP ONE to Your New Home in 2014
I have always been told that if you have a new business plan its best to get started sometime in November or December. If you wait to get started until your first day back in the office after a long holiday weekend you’ll waste valuable time getting your plan implemented.
This theory certainly applies to your future home purchase. Over the next 4 weeks we will be posting our Simple Steps To Your New Home in 2014.
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STEP ONE – Contact your mortgage professional today.
Whether you use your bank, a mortgage lender, an old friend or an experienced mortgage broker…you should call them immediately. Ask to get prequalified now. With the exception of credit unions, most mortgage professionals can turn around a Pre-Approval in less than 2 days. Lenders are very goal and quota driven. Knowing that you are a possible loan transaction for 2014 will surely get you superior service this time of year.
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All too often we help our clients find the perfect home only to discover that it is out of their financial reach. By putting the financial pieces of the puzzle together prior to home shopping you can eliminate many last minute difficulties and delays that come with underwriting requirements. An experienced mortgage officer will be able to analyze your credit report and review your assets and income documentation in order to provide you with a realistic sales price range for your new home. A mortgage officer can also help you determine what size down payment you will be comfortable with and estimate what your closing costs and out of pocket expenses will be. Having a clear financial picture at the beginning will make the home buying process easier. You may even find out that you can afford much more than you thought or that you don't need to sell your existing house to move forward on the purchase of a new house.