Purchasing a home is often considered an important step in one’s financial life, no matter what point you arrive at it, but there are things you should know about financing your home purchase before stepping into the fray. If you’re planning on buying a home soon and want to avoid some major missteps, here are a few tips that will set you up for success.
Taking The Lender You’re Offered
The first step is to be Pre-Approved by a trusted Lender (firstname.lastname@example.org). You will want to work with a lender that will make the process towards a home purchase a smooth one. A shortlist of potential lenders that have been referred to you and have been in the industry for a significant amount of time is a good option. Having been in the industry for a decade, you are prepared for all outcomes. The process will be a lot more comfortable if there’s someone on your side you know you can trust.
Keeping Your Credit History In The Dark
Without a doubt, the lender will be looking at your financial history in order to determine the amount of financing you will receive, but it’s still important to be prepared on your end so that you know what to expect. Start by acquiring your credit report so that you can correct any inaccuracies on it and be prepared for what this score will say about your financial viability. When it comes to the financing you’ll need down the road, the right information on your credit report will make a difference in the end result.
Forgetting About The Loan Officer
If you’ve already established who your lender will be, it’s still important to meet with the person who will be handling your loan and make sure they’re someone you can trust. Ensure that you are aware of their qualifications and that they have enough previous experience in their back pocket to provide you with insights that may come in handy. While having a reliable lender is certainly a good start, the right individual to handle your loan will be someone who is licensed and involved with a local, professional mortgage association. (Emma Butler- Sr Mortgage Adviser NMLS ID: 223759)
All of the things involved with mortgage financing can be quite complicated, but by finding the right lender and preparing yourself , it can be a much easier experience. If you’re starting to consider your options for a home purchase, you can contact me to start your Pre-Purchase Consultation.
Emma Butler Sr Mortgage Advise
312.208.3987 | email@example.com