Getting Pre qualified for a Mortgage Loan is a MUST!
My past customers call me when they are ready for a new mortgage loan, or if they want to refinance their current mortgage loan. Most of them have been trained by me to take the informed route. The more they know, the easier it is to make a very important decision.
I often get calls from potential home buyers who want to get pre qualified for a mortgage loan. The bad part is when one of these callers has already looked at a home, and in some cases several homes. I'm talking to a couple this week who have found the perfect home, but did not get pre qualified for the mortgage loan before embarking on this journey.
Immediately upon speaking with this potential buyer it is obvious they have only looked at one home. Then with a credit check there are "issues". This situation is not hopeless, this couple can buy, but they have some work to do. As they do this work, the home they looked at and love will most likely sell to someone else.
As most Realtors and loan originators can attest, it is harder and harder to get mortgage loans closed without a lot of stress. These days of high foreclosure rates lenders demand more from home buyers to ensure the borrower is not likely to default. Lenders "proceed with caution" and home buyers would be well advised to do the same.
Getting pre qualified for a mortgage loan is a MUST for home buyers. The process can be fun and exciting; not getting pre qualified and mapping out a strategy is sure to end in disaster or make it a miserable process. Whereas there were some bad lenders who contributed to the housing collapse - home buyers/owners need to take some responsibility.
I am very thorough in explaining all aspects of a mortgage loan; I know I am not the only one. A phone call is painless and inexpensive or FREE. My website www.dagriffinfinancial.com has a lot of free information and guidance that would be a great first step for a home buyer.
