When seeking to purchase a home it is important to address the issue of financing as early as possible. There are a couple of reasons for this.
One very important reason is that sellers do not wish to have unsecured offers. For instance, if more than one offer is received the seller may choose the offer that is accompanied by a letter of per-approval (secured from your lender).
Some listings are even designated as requiring a letter of pre-approval before submission of offer. If you have not secured loan approval, your offer will be contingent upon "Buyer shall make written loan application within five (5) business days after the Date of Acceptance. Failure to do so shall constitute an act of default under this Contract".
When buying a home it is well to avoid potential stress if at all possible - being proactive is a much more comfortable way to deal with what should be an exciting and happy occasion. Get Pre-Approved!
Addressing financing will also enable you to answer the following questions:
? How much can you realistically afford to borrow for the home you desire?
? What latitude do you have in regard to taxes and / or assessments?
? Are there credit issues you need to address BEFORE securing credit?
? How might those issues best be managed?
These questions may be addressed in a variety of ways. If you choose to go directly to a lender, the following are individuals I have worked with and feel confident will deal with you in a professional and expedient manner.
Dan Rock, GUARANTEED RATE 630-688-5592 firstname.lastname@example.org
MARISOL PENA, Standard & bi-lingual Spanish, 630-849-0833 mpena@THEFEDERALSAVINGSBANK.COM
ANNA ZIMMERMAN, AZIMMERMAN@FCBANKGROUP.COM 630-328-8515
Roland Gomez, PAYCOR, email@example.com Offce: 773-881-7744 Cell: 708-372-4202
Mary Glavin, Wintrust Mtg, MGLAVIN@WINTRUSTMORTGAGE.COM 630-598-2320, if a pending divorce call Mary
REVERSE MORTGAGES - DOLORES ZIMMERMAN, 630-764-2700
VA LOANS - JACK AMBERG JAMBERG@THEFEDERALSAVINGSBANK.COM 630-995-5244