Exclusive Buyer

items like school districts, crime stats, impending construction, or anything that could increase or decrease the value of a home. STEP 2: GET PRE-APPROVED FOR A LOAN The first step mentions visiting your bank to see how much you can afford for a new home. You’ll also need pre-approval for a loan, whether it’s from your own bank, a different bank (perhaps one that specializes in mortgages or is offering a great interest rate), or another mortgage-lending company. At any rate, the majority of home buyers must contact lenders for mortgage loans because the full cost of a home is generally not within the purview of the typical buyer’s assets. Be careful here. Some banks are willing to lend larger loans than they know are reasonable, creating financial issues for buyers down the road. Even if you know your budget, and you know what’s affordable for you, you could get “tricked” by a bank or lender into thinking you can afford more than you can. Know your limits. Stay disciplined so you stay on track. Let’s say you’re counting on selling your home for xx amount of dollars to serve as your down payment for your dream home that’s a bit out of your financial reach, and you don’t have extra in your savings account. What are you going to do if your home doesn’t sell for the amount you expected — or worse, if your home doesn’t sell at all, languishing on the market while you’re forced to pay two mortgages and can’t make ends meet? You have to be smart about this. While the process of buying a home, whether or not it’s your first, is a major emotional financial investment, you must maintain emotional control and make practical decisions based on your budget and situation. The best approach? Pre-approval by a proven, experienced, qualified, and reputable mortgage lender with whom you have