The second step to getting ready to start your home search, and really the most important one, is getting pre-approved. We can't start looking for a home for you if we don't know what price range you need to be looking in and that you are ready financially to make it happen. This is where working with me starts to become advantageous. Not only am I a real estate agent and will be helping you to find a home, I am a licensed loan originator as well and can help you find the mortgage that is the best fit for you.
So I work the pre approval process differently than most loan originators. During step one in our initial conversation, we talked about your budget. So based on that budget, instead of giving you an amount that you are pre approved up to, I'll work with what you want to pay a month, and try and guide you toward the price range that matches up with that monthly payment. Obviously I'm not going to withhold that information from you, if you absolutely have to know then I'll tell you. But what I find is that if we move forward based on monthly payments, then the end result is that the buyers I work with in this way, are more likely to keep their budget in place, and be happier with the home in the long run. Not to mention happier with their bank account every month in the short run
When looking for the best mortgage for you, it may be completely different than the best mortgage for someone else, and the mortgage that is the easiest to get is sometimes not the one that is going to be the most beneficial to you in the long run. There are so many mortgage products out there, and each one can be the right one to someone at sometime.
When most people think of a mortgage they think of a straight 30 year fixed rate mortgage, and for the most part this is the mortgage that a majority of people go with, but even within that loan product there can be a large variety of different options. Some that may be better than others for you depending on your personal situation.
If you stick with me, I'll make sure that we go through all the different options that are out there, well maybe not "all" the options as there are so many, but we will go through a handful that will match up with what you are looking for and will match your needs.
If You would like more information regarding the company that will handle the financing, feel free to click the link below to visit the Benchmark Mortgage site