Many people and many families ask: How do I get started? What is the first step?
The first step in the home buying process is to get pre-approved for a mortgage from your lender. Typically, a mortgage is a large loan that you use to purchase a property and is paid off over a long period of time. With a pre-approval, you and your family can know what you can afford, estimate your monthly payments and lock in an interest rate. It is important that you take this step before searching for houses online and viewing properties with your Realtor. Imagine, spending a lot of your own time searching on the internet for the perfect home, visiting potentials homes, only to find out that you cannot afford the home. To avoid this from ever happening to you, go to your lender and get pre-approved. It will save you and your Realtor's precious time. There are many several types of lenders that are available to you, such as banks, insurance companies, trust companies, loan companies, etc. It is best to talk to a mortgage professional to better understand your financial options. Lenders will consider your income, your expenses, the total amount borrowing, your total debt, your credit history, etc. Once obtained, although not a guarantee, a pre-approval does provide confidence to the Seller's that you are able to afford the selected home, strengthening your offer to purchase. For more information or for referrals, do not hesitate to contact me today! CategoriesAll
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AuthorJerome Susi is a real estate agent in the Vancouver metro area. He specializes in working with buyers and first time home buyers looking to fulfill their dream of property ownership. Archives
January 2020
CategoriesAll Client Dual Agency First Time Home Buyer Home Buying Mortgage Pre-approval Real Estate Market Unrepresented Party |
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All information provided herein has been obtained from sources believed reliable, but may be subject to errors, omissions, change of price, prior sale, or withdrawal without notice. Jerome Susi and Team 3000 Realty make no representation, warranty or guaranty as to accuracy of any information contained herein. You should consult your advisors for an independent verification of any properties.
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All information provided herein has been obtained from sources believed reliable, but may be subject to errors, omissions, change of price, prior sale, or withdrawal without notice. Jerome Susi and Team 3000 Realty make no representation, warranty or guaranty as to accuracy of any information contained herein. You should consult your advisors for an independent verification of any properties.
PRIVACY POLICY