It’s been decided; you’re going to buy a new home. Whether you’re a first-time homebuyer or a seasoned homeowner, the home buying process can seem a little daunting. Browsing through beautiful homes is the easy part—it’s when you actually decide to take action that things become tricky.
Even knowing where to begin is difficult because you have a couple of different options. Do you begin by contacting a real estate agent or a mortgage specialist? On the one hand, you need an agent to see those beautiful homes and who doesn’t want to start the process wandering through homes imagining them decorated with personal belongings? On the other hand, you need to know how much you can really afford before real house hunting can begin.
There are multiple reasons why you should contact a mortgage professional first, keep reading to learn more!
Get an Accurate Idea of Monthly Payments Before House Hunting
While many house hunting websites have calculators that can give an estimate of the monthly payments, they are not always the most reliable. Most are based on national rates that may or may not differ from the rates in your area. It’s always best to rely on payment estimates calculated using your personal information, like the ones mortgage specialists can provide.
Know How Much You Can Afford
House hunting before you have an accurate assessment of what you can afford can set unrealistic expectations. If you begin the process with high expectations, it may result in a poor overall home buying experience and eventual dissatisfaction with the home you end up purchasing. It’s important to maintain realistic expectations throughout the entire process.
Help Your Real Estate Agent
The information a mortgage specialist will provide you with is not only beneficial to you, but also to your real estate agent. It ensures the agent will not waste valuable time showing you homes you can’t qualify for.
Learn More About the Home Buying Process
Mortgage specialists are qualified to explain the entire home buying process to you. It’s important to really know and understand the process as it pertains to you because it can differ based on the situation.
Get Help Finding a Real Estate Agent
Speaking with a mortgage specialist before choosing a real estate agent can also alleviate the pressure of finding an agent. Many specialists, including us, have had the opportunity to work with hundreds of local agents, allowing us to give recommendations based on past experiences.
As you can see, there are many benefits to choosing your mortgage specialist before beginning to house hunt. The team here at Mortgage Specialists would love to help you navigate the home buying process.
This post has been updated from its original publication date of November 9, 2022.
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