First Important Step - GET PREAPPROVED

First Important Step... Get Pre-Approved

The first step in beginning to shop for a home is to get pre-approved. If you don't know who to go to, ask your REALTOR. More than likely they have three or more mortgage people that they work with on a consistent basis and know which ones have a good track record for excellent customer service to the buyers.
I had a gentleman call me this week. He'd driven by a house and wanted to see it. "Great, I'd love to show it to you! Are you pre-approved?" He said no he wasn't, so I suggested someone for him to call. It doesn't cost anything to get pre-approved, it's FREE. It's also free to get second opinion from another mortgage lender too!
Well, unfortunately, when the gentleman went to get pre-approved there were some dings on his credit that need to be taken care of and he would not have been able to qualify for the mortgage on the house he wanted to see.
The other important part about getting pre-approved is during that process the lender will tell you what you qualify for. They determine this by taking into consideration your credit score, your income and your debt. So why set yourself up for disappointment looking at something that is out of your comfort zone? So after you are pre-approved you and your REALTOR will both know how much you qualify for... which will tell you what price range you should be looking in.
Plus after you are pre-approved, the mortgage person will give you a pre-approval letter that should be included with any offers you make to show your serious and you are ready to make a purchase!
If I can answer any questions for you regarding Kansas City Real Estate, please feel free to e-mail me at franwhite@kc.rr.com or give me a call at 816-682-3897,
Fran White, REALTOR Reece and Nichols Residential