Many buyers call their lender seeking information about financing. In the process, they become pre-qualified. That gives them a good idea of what they can afford, or more accurately, what loan amount they qualify for.

However, you should take it one step further and ask to be pre-approved. When you become pre-approved, you actually apply for a loan. The lender checks credit, verifies employment, and often verifies that you have sufficient funds to close. Once you find your dream home, only the title report and appraisal are left.

The reason savvy buyers obtain pre-approval prior to shopping for a home is that pre-approval strengthens their negotiating position when they make an offer on a house. Every seller wants to sell his/her home to a pre-approved buyer. Pre-approval can also cut days, even weeks off the closing process.

Pre-approval can really help you to determine your price range and help you narrow your search parameters. You will already know how much you can afford before you even start looking for a home.

Call me if you would like the name of a lender to pre-approve you for a loan, or if you have any questions about the pre-approval process. I'm happy to help.

Most lenders require you to include a portion of your own funds toward the purchase of a home. Saving for a down payment can be one of the biggest challenges in buying a home.

A down payment can come from many sources: savings, investments, stocks and bonds, relatives, company bonuses, equity in other assets, etc. There are loan programs today which require little in the way of down payment and even a few allowing no down payment at all.

Many buyers use the equity from their current home for the down payment on their new home. Do you need to sell in order to buy? If you want to sell your present home in order to buy your new home, I would be happy to provide you with a free market evaluation.

If you provide me with some basic information on your home, I can give you a price range by analyzing the comparable properties from the Multiple Listing Service (MLS). If you would like a more precise and thorough market evaluation, I can stop by for a quick view of your home.

Please call or email me if you are interested in a free market evaluation of your home or if you have any questions.