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Most people think that the first step in buying a home is to start shopping. Actually, the first step in buying a home is talking with a local lender to find out if you will qualify financially.
The lender will talk with you about your plans and what monthly payments will fit comfortably into your budget. Once you and the lender have established a home loan amount, called a mortgage, you are ready to begin shopping for your first home. A pre-approval from a lender carries a lot of weight with sellers and tells them you’re interested and qualified.
Pre-qualifying yourself online with an internet lender is not a good idea in the seller's eyes. An internet loan company can be located anywhere in the United States and may not be aware of local real estate legislation. Loan fees are always higher, with much more out-of-pocket expenses paid by you as the buyer.
I highly recommend using a local Charlottesville lender to fund your new home. A local lender will be easily contacted via phone for quick answers to your questions or you can walk into their office and meet face-to-face. Buying a home is an emotional experience and using a local lender can make your experience more personal. Faulty lender pre-approvals are a main reason real estate transactions fall through and almost 40% of these pre-approvals come from Internet-based lenders, according to a study by trade publication "Inside Mortgage Finance."
Start shopping online! Email LindaWiller@remax.net for property listings in your price range