When do I apply with a mortgage lender?

Once you’ve evaluated your financial and living situation and decided you’d like to consider purchasing a home, the first action step is to get pre-approved. Getting pre-approved prior to visiting properties helps all parties involved:

  • You’re able to make an offer as soon as you find the one you want.
  • Your REALTOR® isn’t showing you properties that you cannot afford (that’s what open houses and the Parade of Homes are for).
  • Sellers and listing agents aren’t wasting their time scheduling and preparing their home for your visit, a non-qualified buyer.
  • Your REALTOR® can advise you in ways that maximize your satisfaction for your purchasing power (e.g. for $xx,xxx more, you’ll likely be able to afford that wish list item you mentioned, or you might not want to max out your monthly payment just for that).