a home can be an emotional, time-consuming, and complex process. There
are a few things that you can do to help make the process go as smooth
1. Check your credit.
you apply for a home loan, regardless of your credit, it's a smart idea
to obtain a copy of your credit report from the three major credit
bureaus and review the information. If there are errors or things that
need to be addressed, it's easier to address them before you have found a
house, than after you have found a house and are trying to close your
you know that there are a few blemishes on your credit, let your lender
know what they are, why they are there, and why you are a still good
credit risk. Lenders look at your credit to determine how likely you
will pay back the loan. If you had extenuating circumstances - like a
loss of a job or medical bills - let them know so that they understand
that it is not likely to happen again in the future.
2. Get your loan approval letter before you look at properties.
approval means that a lender has reviewed your credit history, verified
your assets and employment, and has approved your loan before you have
found a home to purchase. As long as the home appraises for at least the
purchase price, the loan should close.
approved is mandatory in today's Real Estate market. Our professional
duty warrants that we send in any offer with a copy of an updated loan
approval qualifying letter with current asking price and property
address. If you are working with a "Banker" or "Loan Broker" who does
not work evenings or weekends then you may be at a disadvantage. My
goal is to give you every advantage so let me know if you need a
recommendation for a Loan Broker who is readily available to provide the
service you need when you need it!
3. As your Buyer's Agent, we look at properties together once you are pre-qualified. Here is the mortgage expert I prefer to work with:
Kim Pettigrew Senior Loan Officer
NMLS # 288484
real estate agents represent the sellers in a transaction. Therefore
the seller's agent or the "Listing Agent's" legal fiduciary duty is to
the seller not the buyer.
buyer's agent's job and fiduciary responsibility (meaning legal duty)
is to you, the buyer. I will be able to help you determine the price
and terms for an offer that are best for you. The "Listing Agent" (who
Lists the property in the MLS for the owner) has a fiduciary duty to
the seller, not you the buyer. I will send you a weekly update of
properties available. Call or e-mail me when you see one that interests
you. I have a team that I work with. Dianne is our contracts manager,
she writes most of the offers. If I am not available to show then
Rebecca is back up for me. We have all your needs covered.
4. Drive the block & neighborhood.
times the house you find may be in a neighborhood that you're not
familiar with, which is ok. It just means that you'll have to do a
little more research. These days you can do a lot of research on the
internet... the following is a partial list of items to check.
Check out the schools.
contact the police station and obtain crime statistics? Are they
acceptable to you? Sometimes, if they won't give them to you, it could
be a cause for alarm.
to the neighbors. The more people you talk to, the better sense you
will get of who makes up the neighborhood and how they will effect your
time spent in it.
out the location of the shopping, police and fire stations, schools,
and air traffic overhead. These are all things that might affect your
property value or quality of your life.