Securing Your Financing

Securing Your Financing

The first step to purchasing a home is to line up the financing you’ll need for your mortgage. Once this is established, the rest of the process is easy .

Meet With Reputable Lenders

Lenders who seem most responsive are usually the most eager to help you . There are all kinds of loan products available with different rates and features. A competent loan officer will educate you and guide you through the options that are the best for your specific situation. Based on our experience, The Raines Group can recommend several of the best lenders in the industry .

Get Your Mortgage Pre-Approved

Unlike prequalification (a quick estimate of your borrowing potential), pre-approval is a formal approval of a specific mortgage amount – typically the maximum you can borrow . You’ll receive a Good Faith Estimate of your closing expenses . By initiating the mortgage process early, you’ll be in a better position for your home search and purchase . Save time by shopping within your pre-approved price range Save money dealing with a comfortable seller Close more quickly and easily Less likely to have any last minute surprises

Shop Within Your Budget

Once you are pre-approved, you will know exactly how much house you can afford . This gives you an edge over other buyers in negotiations or multiple offer situations .

Improve Your Buying Power

We will give you the basic financing information you need, so when you speak with lenders, you’ll have questions in mind . Ultimately, getting pre-approved improves your buying power . No matter where you are, it’s always a good idea to have a local lender .

Personal contact makes them more accountable to you and they will be familiar with local laws and regulations .