Before we begin our search for the property of your dreams, we need to take a few minutes to discuss the financial side of the transaction. Do you plan to make a cash purchase or will you need some financial help? Our goal is simply to make the necessary financial commitments as easy as possible.
If you need a mortgage, please consider the following. Deciding on which lender to use is just about as important as deciding on which home to buy. What seem like small differences in interest rates or other terms can mean a difference of thousands of dollars over the life of your loan. The purchase of a piece of property, be it a house, a condo, or a vacant piece of land, requires the efforts of a number of different people to bring about a smooth and successful closing. Working with a reliable, knowledgable loan officer will help the transaction come together smoothly. A lender that promises you the moon but can't seem to put together your loan, can cause you to lose your "Castle in the Sun".
If you have developed a good relationship with a lender, we recommend you discuss your property purchase with them. At the same time, again, it is important to stress that it may be beneficial to "shop" for the money to buy your property. A little extra time spent at this stage can mean a lot to you later.
We also want to stress the importance of being pre-qualified, or better, pre-approved, before we begin the property search process. These terms may be a bit overused and mean slightly different things to different people, so discuss this with the lenders you consider. If you know "how much" property you can afford, we can help you find what you want and will be comfortable purchasing. You may be surprised and find that you can afford more than you thought, if you want to spend that much. Or you may not be able to buy as much property as you thought. Whatever, it's better to know up front. Don't look at a $200,000 house and get you heart set on that dream home, only to find that you can only afford a $150,000 home. For a purchase as important as your home, you need to be realistic. First, if you need a loan to buy your home, you must find a lender that is willing to approve the loan. And, if you somehow get the loan and later find the payments are more than you can meet, your life will be difficult and you could end up losing your dream home. Be Realistic - and be Happy!
Our Real Estate experience has given us the opportunity to work with many lenders over the years. While it is not appropriate for us to tell you which lender to use, we would be happy to supply you with the names of a few lenders that we have found to be honest and helpful. If you would like a few suggestions to get you started either call us or drop us an e-mail.