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How Soon Should I Talk To A Lender If I Want To Buy A Home?

 

How Soon Should I Talk To A Lender If I Want To Buy A Home?


"I want to buy a home, what do I do first?"

When you are first considering  a purchase it will be helpful to begin preparing a budget and know your area of interest.  Then contact a lender.  Most of us don't bite.  We aren't going to judge you, we really are hear to help!

I want to buy a home, what do i do first?

The sooner you get started on the preapproval process, the sooner you will know what steps to take before you "must" be mortgage ready. Some folks are surprised to find that they are already mortgage ready.  Some folks are surprised when they are not mortgage ready.  Speaking with a lender will help you to know where you are, so you can be sure that you know where you are going!


Your lender will be able to tell you if  there are things you can do to tweak your credit score, if needed, to ensure that you get the best loan available. Sometimes tweaks can take time.  You will find out how much money you need for a down payment and for closing costs.  You will find out what is ahead, and things to avoid that could hurt your loan approval.

Good lenders will review your credit report and your income and asset documentation, as well as your big picture goals to help you to determine your best loan options and your next steps.

When you are really ready to put in an offer on a home, you may need to update your documentation. This will allow the lender to make sure that nothing has changed that could affect your approval and the lender will provide a letter for submission with your sales contract. 

 

How Soon Should I Talk To A Lender If I Want To Buy A Home?

The sooner, the better!

Warm Regards,

Bridget McGee  Maryland Mortgage Mama  NMLS# 196068  Corridor Mortgage Group.   410-960-2061 EHO   bmcgee@corridormtg.com or marylandmortgagemama@gmail.com

 

If you are considering purchasing a home in Maryland and want to be sure you are mortgage ready, my brother Tony and I will be happy to help! We help to make the mortgage process a pleasure! 

If you already own your home, we are happy to provide a no-cost mortgage review to help you to determine if refinancing may be in your best interest.  Please contact me at 410-960-2061.

Comment balloon 6 commentsBridget "Mortgage Mama" McGee • March 11 2013 08:06PM
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