If you need assistance, please call 704-935-5575

Buying | Millennial Realty Blog

Friday, April 3, 2020   /   by Jodie Steele

Why Getting Pre-approved Should Be The First Step

The most frequent push-back I receive from buyers is when I tell them I’m going to have my lender call to get pre-approved. Maybe the buyer doesn’t want their credit pulled. Maybe getting pre-approved will make it all too real and they are just not quite ready for that yet. There could be a number of reasons getting pre-approved is a little scary. However, getting pre-approved should always be your first step. Here’s why!

First, getting pre-approved will tell you if there is some work to be done on your credit. Buyers may need to clean up their credit a little before purchasing a home. A good lender can help you with this or direct you to a financial advisor to help get you on track.
Second, to simply see what you will be comfortable with for your monthly payments. I tell all buyers to have a conversation with their lender about what monthly payments will look like. For instance, what does a $250,000 loan vs. a $500,000 loan look like. You may be ! ...

Read More

  homeowner, buying, home buying