Two out of three prospective Viera, Florida home buyers I have spoken with this week shared one characteristic... They had the cart before the horse. In this case the cart represents mortgage pre-approval while the horse represents the home shopping.
Buying a house is really a logical process. It has a logical starting point and finishing point.
One of the first things that should be accomplished is understanding what you can buy. This starts with a mortgage pre-approval.
Your chosen lender will review your application, check credit history/scores and determine a maximum purchase price for consideration. Note this price is not in stone nor is it the amount a buyer must spend.
I am not a mortgage expert. I leave that up to the professionals who are quite capable of providing advice on qualifications and different loan programs.
Early on ask your lender ask what types of properties you can buy. Sometimes the type of loan program or lack of cash requires restrictions be placed on the specific property sought (i.e. foreclosure or auction property).
Understanding what you can buy also includes the type of property and conditions of sale. Some condo complexes are not FHA or VA approved so they must be eliminated.
The property type may be restricted such as in no manufactured or mobile homes. Some properties are short sales and the timeline will not fit.
The most important advice I can give prospective home buyers: Know your loan status (amounts, types of homes, projected costs, etc) and know your mortgage lender's contact number. If you have a question about your mortgage, ask!
Buying a home is a cooperative effort involving multiple people. Buyers, their real estate agent and mortgage lender all need to be on the same page.
Ready to move to Brevard, County, Florida? I can help you find a local lender, your next home and the moving company to help you out!
Buying a house is really a logical process. It has a logical starting point and finishing point.
One of the first things that should be accomplished is understanding what you can buy. This starts with a mortgage pre-approval.
Your chosen lender will review your application, check credit history/scores and determine a maximum purchase price for consideration. Note this price is not in stone nor is it the amount a buyer must spend.
I am not a mortgage expert. I leave that up to the professionals who are quite capable of providing advice on qualifications and different loan programs.
Early on ask your lender ask what types of properties you can buy. Sometimes the type of loan program or lack of cash requires restrictions be placed on the specific property sought (i.e. foreclosure or auction property).
Understanding what you can buy also includes the type of property and conditions of sale. Some condo complexes are not FHA or VA approved so they must be eliminated.
The property type may be restricted such as in no manufactured or mobile homes. Some properties are short sales and the timeline will not fit.
The most important advice I can give prospective home buyers: Know your loan status (amounts, types of homes, projected costs, etc) and know your mortgage lender's contact number. If you have a question about your mortgage, ask!
Buying a home is a cooperative effort involving multiple people. Buyers, their real estate agent and mortgage lender all need to be on the same page.
Ready to move to Brevard, County, Florida? I can help you find a local lender, your next home and the moving company to help you out!
