The reality is that getting a mortgage in today's market is not guaranteed. Unlike in the past, lenders have stricter criteria to ensure responsible borrowing.
So how do you avoid the pain of losing your dream home due to mortgage rejection? The answer lies in prioritizing pre-approval.
Pre-Approval: Your Financial Plan
Getting pre-approved from a mortgage lender is like having a blueprint for your home buying journey. It includes a thorough analysis of your financial situation that provides a clear picture of how much you can realistically borrow. This allows you to focus to search for yours real estate. Knowing your budget will keep you from losing out time on homes outside your price range.
Build your dream team: a financial advisor and a real estate agent
Once you have a pre-approved mortgage in hand, it's time to assemble your dream team - financial advisor and real estate broker.
Financial Advisor: Your Money Guru
Your financial advisor acts as your money guru throughout the home buying process. They can analyze your financial situation: This includes reviewing your income, debt and savings to determine your creditworthiness and potential monthly mortgage payments. In addition, they can advise on advance payment strategies. Your financial advisor can help you develop a strategy to maximize your down payment while ensuring your financial well-being.
Real estate agent: Your real estate matchmaker
With a budget set in advance and a financial advisor at your side, it's time to use the expertise of a real estate agent. Yours agent can find properties, that suit your needs and budget.
Winning formula: Peace of mind and efficiency
By prioritizing pre-approval and assembling your dream team of financial advisor and real estate agent, you'll prepare for a successful house purchase without stress. You'll have peace of mind knowing you can afford the properties you're considering, and you'll be a competitive buyer with the support system you need. So ditch the traditional approach and opt for pre-approval first. It's the key to unlocking your dream home.
You can calculate a non-binding mortgage offer HERE. If you are looking for a property to buy, we have the opportunity to get to non-public real estate offers (you won't find them on real estate portals), get in touch.
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