Buying a new home is very exciting and many clients want to hit the ground running and start seeing homes for sale right away. However, before starting your home search, it is imperative to first speak with a local mortgage professional to find out how much money you can afford to spend. A mortgage lender will also be able to answer any questions and address any concerns pertaining to financing. 

A mortgage professional will let you know what your monthly housing fees will be including your property taxes and homeowner’s insurance. They will also pull your credit to determine your interest rate and loan program. For most programs, a lender will also review your personal documents including your bank statements, pay stubs, tax returns, and other assets to get you properly pre-approved. Overall, the preapproval allows all parties involved to know exactly what type of home you – as the buyer – will qualify for, making the process of actively searching for a home a more informed and efficient one. 

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