If you are buying a home in San Francisco, it is crucial to get preapproved for a mortgage before beginning the house hunt. Why? You'll know exactly what you can afford. Understanding your purchasing power and any limitations * is integral to an efficient, focused home search. Spend your time looking at homes you can afford to actually buy. By focusing on homes that meet your needs, you'll get a sense of market value for yourself and be able to make a smart decision as to which home to buy. … [Read more...]
Buying a home in San Francisco? Why it’s crucial to get preapproved for financing before beginning the house hunt.
Recently, a client asked me about how to choose a mortgage broker. She wanted to know if it was necessary or smart to get preapproved by more than one lender since she was still figuring out who would have the best interest rates and programs for her. She wasn't ready to choose a mortgage broker yet so she was unsure of how to get more information and proceed on preapproval. Here's what I told her. My recommendation is to work with one mortgage broker. You will get the best service and the … [Read more...]