When you are starting your home home buying experience, your REALTOR will be speaking about prequalification, preapproval and loan approval. You will be encouraged to speak with a mortgage professional to make sure that you will be able to obtain a loan and also to find out an estimate of the amount of the loan that you will qualify for. This is a crucial step in determining how much home you will be able to afford. It is heartbreaking to find your dream home only to learn that it is outside of your budget.
I always recommend to my clients that they speak with several different lenders; since different companies will offer different programs. It is important to find not only the best loan for your needs and budget, but also the mortgage officer that you are comfortable with. But when you have obtained your good faith estimates from several lenders, how do you compare them? Jeff Belonger – Infinity Home Mortgage Company has written an excellent post clearly explaining the basics of the good faith estimate.
If you have any questions about buying or selling a Charlottesville home, or the Charlottesville, Virginia real estate market give me a call; I am always happy to speak with you.
, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161, pam@JumpintoGreenerPastures.com, to list your property for sale or to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Troy, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.
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