The second installment of the video series to help you buy your first home is called Shopping for a Loan.
Most Columbus real estate agents will tell you that you need to be pre-approved for a loan even before you start looking at Columbus OH homes for sale. So, Shopping for a Loan should actually be your first step before you even begin house hunting.
Without a loan approval most Columbus real estate agents will be reluctant to show you homes. First, of all you don’t know how much you qualify for, so you may look for a house for sale that’s too expensive. Second, realtors know that without the pre-approval they can’t trust that you will actually qualify for a loan. And if you don’t qualify you may not be able to buy a Columbus home for sale at all.
Do not delay shopping for a mortgage loan and get a pre-approval letter as soon as possible.
The following video will help you understand the good faith estimate that spells out the terms of a loan, to shop for the best loan for your home purchase. You will learn how to identify the key loan terms and costs of a particular loan offer.
HUD suggests consumers shop and compare GFEs from multiple mortgage brokers and/or lenders in order to get the best loan for their situation.
I have excellent loan officers on my team!
Call me today at (614) 975-9650, so I can give you their name and phone numbers.
Thanks for reading the susannenovak.com Blog!
Posted by: Susanne Novak, ABR, FIS, GRI
Columbus Real Estate Agent helping First Time Buyers.
Susanne Novak has been a Realtor since 2007. She is the broker and owner of RE/MAX 24/7 in the Dublin Historic District. Susanne typically helps 50-60 families each year with their real estate needs. She's your trusted advisor when you search for your dream home, and a skilled negotiator when she lists your property to get top dollar when you sell.