If you did not find your “Dream Property” listed within our site, please give us an opportunity to look for exactly what you would like and contact you. We will be happy to contact other Realtors and find the property you are looking for.
LET BOLIVAR INSURANCE & REAL ESTATE FIND YOUR HOME
Do not make any major credit purchases prior to buying a home
Don’t go on a spending spree using credit if you are thinking about buying a home, or in the process of buying a new home. Remember…your mortgage pre-approval is subject to a final evaluation of your financial situation.
Every $100 you pay per month on a credit payment could cost you about $10,000 in home eligibility. For example a car payment of $300 per month could mean that you qualify for $30,000 less in a mortgage.
Even if you have accumulated enough savings, you should consider not making any large purchases until after you close on your house. The last thing you want is to know that you could have purchased a new home had you curbed the urge to spend.
Getting a Legitimate Lender and Getting Pre-Approved
It used to be that buyers could go house shopping and when they found their dream home, they would then get pre-approved. Not any longer!
In the market today, that’s the least effective method of landing the dream home.
Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you qualify for. However, being pre-qualified and pre-approved have different meanings. Being pre-approved means that you have applied for a mortgage, filled out the mortgage application, received your credit report, verified your employment, assets, etc… When you are pre-approved, you know exactly what the maximum loan amount will be.