The Importance of Getting Prequalified: If you are not paying cash for the entire purchase then you would be getting a loan. It is important to get prequalified before you start looking or making offers on properties. You would start by contacting a lender. They can tell you how much you are approved for, approximately what your monthly payment would be, and if you qualify for any down payment assistance programs (if you are a first time home buyer). You will be required to provide a prequalification letter if the purchase is a foreclosure. If it is a regular sale, most sellers will want to see that as well before holding the home off of the market. You will want to be sure that you can afford the monthly payment as well. If you start looking at homes before getting prequalified you may get excited about a property and then not be able to get a loan for it. Realtors prefer you go ahead and get prequalified as well. Below are 2 lenders I work with regularly.

Laura Wells

Capital City Bank

Office: 850-402-7973

Cell: 850-264-1975

Wells.laura@ccbg.com

 

Melanie Stuckey
Innovative Mortgage Servcies
205-821-2169
mel0813@hotmail.com