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Do Not Make These Mistakes and Miss Your Dream Home

The housing market is red-hot right now.  Everyone is looking for their dream home and open houses are mobbed with people.  Houses are selling on the first day on the market, and you need to be prepared to buy if you are looking.  That means a pre-approval from a strong mortgage lender like The Home Loan Expert team.  However, just getting pre-approved isn’t the end of the process.  There are some other steps you need to follow to make sure that you get the mortgage that you want and don’t mess up the process!

Not Getting Pre-Approved – Shoppers that don’t get pre-approved for their mortgages are making a HUGE mistake.  Going to open houses and browsing is one thing.  Going to open houses seriously looking for a home without a pre-approval letter is a recipe for disappointment.

Would you go to the grocery store not knowing how much money you had in your checking account?  Of course not!  So why would you want to shop for a home without having any idea how much you could afford to spend?

Don’t make the mistake of getting down the road with a realtor and offers without a firm pre-approval letter.  Know your budget before you shop for a house.  Don’t miss out on your dream home to someone who’s more prepared.

Making a Big Purchase – This one is a killer mistake.  When you’re in the process of applying for a mortgage, you don’t want anything to happen negatively to your debt-to-income ratio.  Buying a car or a boat or whatever deals a huge blow to your chances of getting the home.

Making a big purchase during the mortgage application process is like punching your application in the gut.

It doesn’t necessarily kill it, but it will hurt you badly.

Not Getting Another Opinion – When you buy a home, your opinion is the most important one, of course.  If you hate a house, don’t buy it, no matter what your family and friends say.  However, they can help talk you out of making a big mistake.

You can totally fall in love with a home during a walkthrough, and look past structural issues or things that need to be replaced.  Having a second or third opinion can really help when trying to make a decision on the house.  If your parents have concerns about a house because of legitimate reasons, listen to them.  Odds are, since they may have owned a home for years, they know what they’re talking about.

Also, make sure to get the opinion of a licensed contractor on the condition of the home.  Don’t buy a house without letting a professional look at it.

Call The Home Loan Expert Team in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515, Nashville at (615) 810-8555 or Birmingham, AL at (205)721-7656.  You can always apply online at hero.loan for your VA Loan, and www.thehomeloanexpert.com for your other mortgage needs, and we’re also open on Saturdays and will come to you to help close your loan. We work hard to make it easy on you.  Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?

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