Start with a Mortgage Pre-Approval
A successful home search begins with knowing how much you can afford. Having a Mortgage Pre-Approval from your bank or other lender states how much of a mortgage they are willing to give you. This prevents you from falling in love with a property only to find out it’s outside your price range. Plus, when you find a property you want to buy, you want to be ready with a Pre-Approval to accompany your offer.
You can arrange for a Mortgage Pre-Approval with your bank or other lender, or by working with a good mortgage broker. Through our many connections in the local real estate scene, we can recommend a reputable broker or lender if you need one.
How Much Home Can You Afford?
Banks and other lenders use specific criteria to determine how much of a mortgage they’re willing to offer you. They’ll look at your income, expenses, credit history and employment status, as well as the down payment you plan to make. It may sound like an overwhelming process, but it’s really pretty straightforward. Your lender can usually get a Mortgage Pre-Approval for you in a day.
Knowing what you can afford will let you focus your search on homes in your price range. If you have questions about arranging financing, call us at 561-798-3955 or submit the form below, and we’ll get answers for you.