Obtaining Financing

When You Start Your Home Search, Make Sure You’re Armed….

Deciding to buy a home is among one of the smartest things you can do.  After weeks of searching, you have finally found the home that has your name written all over it. 

It has the 4 bedrooms and 3 full baths that you wanted (including in the finished basement).  The landscaping is so beautiful that it looks like an artistic rendering.  What cook doesn’t dream of having a gourmet kitchen? 

The home has 99.5% of everything on your wish list, you want it and want it now, and it is priced within your price range. It’s a match made in heaven until…

Your Loan Application is Denied

For some reason or another, buyers are sometimes resistant to pre-qualify for a mortgage loan at the urging of their real estate agent.  As real estate agents, we know firsthand the disappointment buyers have to endure because their home buying game plan started in reverse (search for home, then apply for loan).  In addition, today’s challenging real estate market, buyers would be hard pressed to find an agent to work with without at least a pre-qualification letter in hand.

By agreeing to pre-qualify for a home, two things are accomplished:

  1. You don’t waste days and even weeks looking at homes that you can’t buy
  2. If qualified, you’ll be prepared to act quickly in submitting a strong offer accompanied by a pre-approval letter

With so many people having borderline credit and ever changing rules and regulations (almost by the minute), it is best to be armed with that pre-approval letter AND know what it is that you are looking for.  Chances are that when you find it, you will want to be ready, willing and able to make an offer that the seller will accept.  The last thing that you want is a little thing like the lack of a pre-approval letter to get in the way.  There is just absolutely no excuse for not getting pre-approval first. Now is there?

Unless of course if you have no intention of buying a house. Prepare yourself well so that nothing stands in the way of getting the home that you’ve set your sights on. 

Buying a Home in Birmingham Alabama, Birmingham AL Realtor

Nothing says “I’m ready to buy” like a pre-approval letter.