August 29, 2011
While you may think being approved for a loan is one of the last steps in the home-buying process, any real estate agent will tell you that is not true. It is necessary for you to assess your specific situation before you begin shopping seriously for Jacksonville, NC homes for sale.
It is the job of a mortgage broker to tell you how much you can afford to spend on a home. There are several ways they go about evaluating this information. A mortgage broker or lender will better determine how much you can afford to spend by assessing:
- Credit issues
- Income (salary, bonuses, commissions)
- Tax returns
- Employment history
Helping you determine the range of money you are qualified to borrow will help you and your real estate agent get a better idea of the price range you can shop in. It will not be beneficial for you to look at homes that are outside of your price range, because it will only make the homes in your price range seem less desirable.
Your real estate agent will also benefit from finding out your exact price range before you start shopping. They will be able to start immediately finding houses that suit your tastes and your price range so you can find your dream Wilmington, NC real estate faster than you had hoped.
Ask friends for a solid reference and only meet a mortgage broker or lender that you feel comfortable with. Often times, people see the mortgage lender as the bad guy, when in reality it is their number one priority to help you find a home that you can afford.
Want to learn more about taking the first steps to approaching your home loan? Watch this Sea Coast Realty video from Chris Hutchens, an Alpha Mortgage professional.
When you’re ready to start the search for your Jacksonville, NC new home, contact the real estate professionals at Sea Coast Realty.