Cathy Crawford

TAS Realty Group
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Getting Ready to Buy!

February 20th, 2015

The phone calls are coming in with people wanting to buy a home. In today's brisk market, it sometimes appears that people forget the most important part of the home search, and that's the pre-approval for a loan. The structuring of your financing can make a huge difference in winning a home in a market plagued with multiple offers.

The question is often raised - why do I need to do that first?

The reasons are many:

1. Perhaps you haven't had your credit checked in many years. Do you know what history this provides? Do you even have credit? and will your credit history allow you to obtain loan approval?

2. How much do you qualify for? Many mortgage calculators on line only show principal and interest charges, they neglect to add in an amount for taxes and insurance. The price tag on that can be quite surprising at times.

3. Have you saved enough money for that down payment and closing costs? On the most desireable homes, many sellers that are faced with multiple offers, will not consider the buyer who is asking for help with closing costs.

These are just a few reasons to get pre-approved before starting your search. Your Realtor will be able to suggest a good lender match for you, if you haven't already found one. And, a good lender will help you lay the ground work for a successful real estate transaction when the "lending picture" for you looks right!

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Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®

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TAS Realty Group
2500 E. TC Jester Suite 235, Houston, TX 77008   Get Directions
Phone: (713) 929-3411
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