Buying A Home
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Find a Realtor before getting pre-approval letter?
Hey all!
So, my DH and I are starting the process of purchasing our first home. We spoke with a loan officer about getting a pre-approval letter, sent in tons of paperwork, had our credit scores checked, etc. and are now just waiting for the actual letter. The LO said that we would def be approved for $175,000, but possible more. We don't want to go more than that, so we have been looking online at listings with that in mind.
We have found several short sale properties, but found one that is not, at a good price, good area, and looks good from the outside and the pics online and really want to go see it.
Would you wait until you have the actual letter to start looking at realtor's?
TIA
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Re: Find a Realtor before getting pre-approval letter?
See, I almost feel bad about bugging this guy, lol! He said he would get it to us yesterday, but I'm still waiting for his call. The one loan originator I talked to at a different bank said it was taking 4 weeks!
Looks like I"m going to start getting referrals for realtors now.
Thanks!
Once you find a realtor you like, ask him/her for lender suggestions. You should plan to work with 2-3 lenders throughout the process so that you have an opportunity to negotiate your best final deal when the time comes. And to us, a lender being prompt and following through on stated commitments is a BIG thing. Once you get into an offer situation, you need someone who is willing to work up the numbers for you and respond on weekends/late nights, help you assess different options, etc. If a lender lacks follow through at this point in time, will he/she really be responsive when time is of the essence in the future? And will he/she really work for and advocate for your deal if things get tricky?
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This is what we are doing:
Once you find a realtor you like, ask him/her for lender suggestions. You should plan to work with 2-3 lenders throughout the process so that you have an opportunity to negotiate your best final deal when the time comes. And to us, a lender being prompt and following through on stated commitments is a BIG thing
Just found a realtor that we liked and she recommended 3 lendors. We plan to speak with them all.