Let's say you want to sell your home and buy bigger, or maybe smaller. You know you have equity in your home, but you still have to take a loan out to purchase the next house. Talk to a lender, banker, mortgage broker.....first.
If you want to buy a home....and you've never bought one before, or it's been a long time since you purchased one....talk to a lender, banker, mortgage broker first.
If you go out and look at homes, and you fall in love with one? Well, guess what? You can't even write an offer on that home without having been financially analyzed by a good lender. No agent/seller will ever consider an offer on a home as a valid offer unless there is a pre-approval letter with it. And, don't get a fake one....heartbreak can easily follow that deception.
Now, don't get me wrong, I've taken buyers out to look at a few homes while they are working through the pre-approval situation. But, I've always told people that you need to know for sure you can spend as much as you think...or maybe even a bit more...before you fall in love.
Just my two cents for today!