Buyers, DON’T do this!
Maybe one of the saddest things is when a buyer falls in love with a house and starts imagining their life in their new home, but then they find out they can’t afford it. It is so tempting to go look at houses because you are just curious. Curiosity is GREAT! You absolutely should go look at houses that you are curious about, BUT FIRST you should find out from someone if you can actually buy it!
Don’t look at houses until you have your financing set up.
YUCK! Financing is boring. Yeah, but looking at houses is fun, so stick with me for a minute.
Truly, this isn’t as intense as it sounds. Getting your financing set up looks like this.
Call a recommended, quality lender and tell them a little bit about yourself. This is going to be a long term relationship so get to know them a little.
Then they are going to send you a quick application to fill out about your income and debt. It should typically take less than 30 min to fill out.
Then, in the next day or two they will follow up with you and tell you a range of what you might be able to afford depending on a few factors:
-How much money do you have for a down payment?
-How much will the monthly payment be with that down payment?
-How long do you want to pay on the loan?
-How high are current interest rates?
Once you know that monthly payment and the price range of the house you can buy, you are now READY to fall in love, because you know what you can afford. So let’s set up a showing. Which one do you want to see?
Call or text me for my recommended lenders. 731-426-2855
