Getting Pre approved Archives -

How do I choose the right lender?

When buying a home, the first step is to get pre approved. However, that can be easier said than done. Many home buyers aren’t sure how to pick the right lender for their home mortgage.

Some buyers just go with their bank where they have their checking and savings accounts. However, that’s not always the best choice. There are many reasons to at least speak with a second lender to see how they compare.

Some lenders might be able to save you a lot more money than your bank would. This can be for various reasons; sometimes they can offer a better interest rate on your mortgage, and some lenders will even waive or reduce fees to earn your business.

Most home buyers typically look at homes and write offers in the evenings or on the weekends when they are off work. But guess what, banks aren’t open at those times. It’s nearly impossible to get in touch with a typical bank lender in the evening or over the weekend.

Lenders who work for smaller companies are much easier to get in touch with late in the evening or over the weekend. They don’t set strict hours for themselves from 9-5 and will go the extra mile to make sure you are taken care of.

In this market, when you find a home you love, you have to move fast. The ability for you or your agent to easily get in touch with your lender can mean the difference between you getting or losing your dream home.

The Lowry Team has over 16 years of real estate experience and can confidently recommend a great mortgage lender to help you purchase your dream home. Contact The Lowry Team today to get started. 513-874-1830

The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

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Buying a Home Step 1: Get Pre Approved

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Buying a Home Step 1: Get Pre Approved

Thinking of buying your first home? Your first step should be to get pre approved. Not quite sure what a pre approval really is? Read on and find out why it’s SO important…

A pre approval is a dry run of the loan process. A mortgage lender gathers information from you regarding your income, debts, assets, etc. to determine how much home you can afford. The lender will be able to give you a hard number that you are pre approved up to, and will be able to give you a run down of what your monthly payment would look like at each price point. There may also be several different loan types available to you depending on your situation. You may qualify for FHA, VA, USDA or Conventional. A lender will be able to talk you through your options and help you determine which would be the best fit for you.

Getting pre approved not only builds a great foundation of knowledge for starting your home search, but it also provides a great amount of comfort. How are you ever going to feel comfortable making the biggest purchase of your life if you’re not familiar with and comfortable with the numbers first?

Another very important aspect of getting pre approved before going out to look at homes is that it saves you from heartbreak. Imagine you’re out looking at some homes on the weekend with your Realtor and you walk inside one that is just perfect for you. It’s got an awesome kitchen, a finished basement, a great backyard, and whatever else might be on your wish list. You will likely be so excited and thrilled at the possibility of getting this home that you want to get an offer in right away. Sorry, I have some bad news for you. You can’t submit an offer without sending a copy of your pre approval letter with it. You can try to get in touch with a lender to get pre approved, but most likely you won’t be able to until Monday rolls around. And if you have to wait, in today’s market, you won’t get the home. Trust me, that can be absolutely heart breaking and you don’t want that. So when I say it’s in your best interest to get pre approved first, I really mean it.

Stay tuned to find out about step 2!

The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team’s culture is that of a fun, high energy group who prides themselves on providing personal, professional real estate service.

The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

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