Northeast Florida Home Enthusiast's

01/21/2015

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We provide real estate services for first time home buyers within Jacksonville and Saint Johns, Florida.

11/10/2014

So you've finally decided to stop paying rent month after after month to your landlord and ready to own a home you can call your own. What is your next step?

A) locate a local real estate agent to show you homes for sale in the area in which you desire. OR
B) contact a Lender to see how much of a home you can afford and qualify for.

The answer which may seem obvious to some is B) but you would be surprised how many people think they would just be wasting the Lenders time so early on due to the fact they have no idea which home they want to buy.

Unlike purchasing a new car where the sales agent tells you to 1st pick out the car and then see if they can get your financing approved, the Real Estate agent will not show properties to a potential buyer unless they have 1st spoken to a Mortgage Lender and have been issued a "pre-approval certificate" outlining the specific dollar amount they are approved for and under certain terms. This certificate will allow you to shop for homes to your heart desires and when ready to make an offer this certificate gives you purchasing power! It tells the seller you are a strong and serious buyer with a solid offer which can close within the timeframe they need (typically 30 days). The last thing the seller or anyone involved in the transaction wants is to accept an offer only for the loan to be denied 30 days later due to the unexpected! So speak to your trusted Mortgage Banker and begin the NO obligation and NO cost application. You should never be charged an application fee, unfortunately some Lenders will charge a few hundred dollars. If they do, walk away and call me as I never charge this fee and would love to help you obtain financing. Please leave comments below with any questions or concerns. I hope this nugget of information was valuable to you or someone you know! Next we will be talking about the major differences between a pre-qualification and pre-approval. Stay tuned.