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Buyer Advice: Talk to a Lender

 

Buyer Advice: Talk to a Lender


 

 

Besides the obvious reasons (are you qualified AND your offer is stronger WITH a pre approval letter) --Buyers -- it is in YOUR best interest to talk to a lender PRIOR to starting your home search.

Buyer Advice: Talk to a Lender

 

 

 

 

It is a good idea to find out what you qualify for and WHAT your payments will be at

that price. You may find that you are not at all happy with what your payment would be at the amount you actually qualify for.  At that point you would need to determine what price range you WANT to stay in so that you will be satisfied with your mortgage payment. The goal is to set you up for success.

 

 

 

I always tell my buyers that just because you qualify for a Jeep doesn’t mean you want a Jeep car note. You may be just as happy in the Ford Fiesta so you can take a cruise to a WARM, sandy beach every February.

 

 

Another reason you should talk to a lender is because there are SO MANY choices. We should never assume we know which one is best for us without discussing it with a trusted source who knows the different programs inside and out!  I recently had a Veteran come into my office wanting to do a VA loan because they had been told by their friends that it was the best one for them. I sent them to Susan at TMC in Trinity and after visiting with her, it was clear to them that conventional was a much better way for them to go.

 

And that leads me to my next suggestion. It is in YOUR best interest to use a local lender whose door you can knock on. Nothing drives me more crazy than trying to get someone to return my phone call from another state. My favorite loan originators have offices within driving distance. They return phone calls and LOVE for you to walk in their door and let them explain everything to you.

 

So… before you fall in love with the house that is going to keep your from that annual cruise, or BEFORE you pick out a loan without looking at the WHOLE picture, and ESPECIALLY before you sign up with some internet lender --> give me a call! I have several awesome lender sources from North Houston, to Huntsville, to Trinity that can HOOK YOU UP! Call Joni Staples at 936-650-9017 TODAY!



Buyer Advice: Talk to a Lender

 

This has been brought to you by YOUR Huntsville / Lake Livingston Area real estate professional. Before you buy or sell, call Joni Bailey at (936) 650-9017. I look forward to earning your business and exceeding your expectations. Broker Associate with Berkshire Hathaway Home Services - Anderson Properties. Mike Huff, Broker.  BerkshireHathaway Hom Services is a member of the franchise system of BHH Affiliates, LLC. Each office is independently owned and operated.

TEXAS REAL ESTATE COMMISSION CONSUMER PROTECTION NOTICE

TEXAS REAL ESTATE COMMISSION INFORMATION ABOUT BROKERAGE SERVICESJoni Staples, Broker Associate BHGHRE-AP (936) 650-9017

 Copyright (C) Joni Bailey     (936) 650-9017  www.LivingLakeLivingston.com

 

Licensed in the state of Texas (0518539)                         

 

  LivingLakeLivingston@gmail.com

 

      

Comment balloon 12 commentsJoni Bailey • June 26 2015 10:02AM

Comments

Great post - one more reason is that lenders are, or should be, experts in their industry just like agents are in theirs. Lenders know the right products for different unique situations similar to agents who know home inventories.

This brings on another point, if agents know the homes and lenders know the loan products, why would buyers work with lenders the agent does not know or does not work with?  It would be like walking up to the cashier at Target and saying " I want to buy jeans, but you have to get them from this supplier!" Target already has a working relationship with suppliers to provide the service to the customer.

Agents and Lenders alike need to review their approach when educating buyers on why the relationships we have within the industry matter. Thanks for a thought provoking post.

Posted by Chris Webb, Tucson's Social Media Expert (Nova Home Loans) about 3 years ago

Joni, Excellent advice as any buyer needs to start the process with talking to  lending officer. I tell my clients to start in this fashion all the time. 

Posted by Robert Bob Gilbert, Your Katy TX ( West of Houston) Real Estate Expert (Berkshire Hathaway HomeServices Anderson Properties) about 3 years ago

Joni

Your insight will help a  buyer to make an informed decision.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) about 3 years ago

JOni,

 Very well said, I have a OSL and they may blow the whole deal for the client yep they are from out of state!

Posted by Yolanda Cordova-Gilbert, Sitterle Homes (Sitterle Homes) about 3 years ago

Joni really good advice again, and Buyers would be wise to follow what you have outlined here.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 3 years ago

Great analogy and I love the pictures!  Every buyer should get pre-qualified.

Posted by Rob Thomas, Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro (Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954) about 3 years ago

Chris Webb EXACTLY! I cringe when I do not know the lender (regardless if it is my buyer or my seller.)  And I always let buyers know that they will be at a disadvantage if their offer is up against some of the trusted lenders in this area. Because if the offers are similar and the only difference is the lender, our local agents all know which ones are AWESOME, and guess which one they are going to suggest their seller try to work with first. The one whose word is gold -->  and who goes the extra mile to make sure everthing goes as smoothly as possible. Can I get an AMEN?! ;)

Posted by Joni Bailey, Your Huntsville / Lake Livingston Area REALTOR® (Berkshire Hathaway Home Services - Anderson Properties) about 3 years ago

Robert (Bob) Gilbert That's because YOU ROCK!! :)

Thank you, Lou Ludwig ! Have a great weekend!

Yolanda Cordova-Gilbert  OH NO! That's not good! :(

George Souto if you could do loans in Texas, you would be my exception to the out of state rule. I know you know your stuff, and believe you take excellent care of your clients. YOU are AWESOME!

 

Posted by Joni Bailey, Your Huntsville / Lake Livingston Area REALTOR® (Berkshire Hathaway Home Services - Anderson Properties) about 3 years ago

Rob Thomas  Thanks! I got the Jeep a few months back and am loving it. But I still love my Lime Squeeze Ford Fiesta! As a matter of fact, I am driving it today! :)

Posted by Joni Bailey, Your Huntsville / Lake Livingston Area REALTOR® (Berkshire Hathaway Home Services - Anderson Properties) about 3 years ago

Joni

Looks like green just may be your favorite color.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) about 3 years ago

Joni, I do get so worried when I see a letter for a buyer and it's from the Internet bankers, and no contaact information for verification

Posted by Ed Silva, Central CT Real Estate Broker Serving all equally (RE/MAX Professionals, CT 203-206-0754 ) about 3 years ago

Lou Ludwig Oh. My..... the secret is out! ;) What gave it away?

Ed Silva I know! Me toooooo!!!

Posted by Joni Bailey, Your Huntsville / Lake Livingston Area REALTOR® (Berkshire Hathaway Home Services - Anderson Properties) about 3 years ago

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