How To Find a Real Estate Lender In Cabot
Some times the first step people take in the home buying process is getting preapproved. That is fine, normally if someone comes to me one of the first questions I ask is if they are preapproved. It is better for a home buyer to get preapproved for an amount before they go looking. Why? There is no use looking at gold plated sink handles when all you can afford are copper plated handles. There is a huge difference between a $100,000 home and a $115,000 home. Yea it does not seem like alot, but in Cabot real estate it is. SO here are the ways people normally find a mortgage lender.
1. Go to the bank you already bank with
Not a bad idea and could be a good place to get a start. Remember if you have them run your credit you need to have them tell you your average credit score. I will explain more later. The major problem with a bank is that they only like and prefer to work with perfect scenerios. What I mean by that is they like a perfect credit score and a large down payment. If you have this then you have nothing to worry about and this is the route you should go. Before you do I would recommend shopping around.
2. Go to a random Mortgage Lender
I would recommend you try this if you have been to a bank already. Take your average credit score in with you and let them know what you make each month and what your expenses are each month. They will be able to tell you that based on the information you gave me this is what we will be able to do. Do not have them or another lender run your credit again until you know who you want to go with. If your credit is ran to often it will drop your credit score.
3. You could skip the first two and go to an agent
Real estate agents deal with lenders all the time, they know what lenders are good and do not charge slush fees. A good agent will also be able to set you up with a lender that may be able to get you qualified if your scenerio is less than perfect.
Any of these options will work and help you find the right lender in Caobt or anywhere for that matter. If you need help finding a lender or would like to work with a good real estate agent, I am always here just let me know. www.cabot4sale.com
Good Day