There is nothing better than to get yourself PRE-Qualified for financing. The reason being is

that as soon as you find your property, you will want to make an offer and be confident that

you will get a loan for the amount you want, at the rate you want, for the term you want

with the program you want!  Do not get caught in the “accepted offer, financing denied”

routine…AFTER you have put up your APPLICATION FEE to the bank!  You do not get your

application fee back after you apply but are turned down…that could cost you

about $500-800 or so.  Often buyers believe they are qualified, but with all the new

bank rules, they find themselves sadly mistaken. So, do yourself a favor, the first thing to do

is to get PRE-Qualified, and learn the program you qualify for and why, and how much you

be likely to be approved for.  There are many types of loans, such as VA, FHA, VHFA and

Conventional and they all dictate the type of property you can  or cannot purchase, and

the amounts of down payments needed and other bank requirements that may or may not

be appreciated by YOU!   Another benefit is that when you make your offer,

you are letting the seller know that you have taken the necessary steps to demonstrate your ability to purchase!

Sellers are more apt to accept an offer from a buyer who is showing that they took the time

to get PRE-Qualified  than from a buyer who has not, even if that other buyer is qualified,,,

the statement from the lender is golden! 

It is painless and well worth the time and effort!

Just do it!

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Denise Byers, ABR,CRS,e-Pro,SFR,REALTOR | Rutland County, VT Homes For Sale