Step One in the Homebuying Process: Visit a Mortgage Broker

If you are considering buying a home, whether you are a first-time buyer or you have been through the process before, it’s now more important than ever to start the process by visiting a mortgage broker. A lot of people who get the itch to buy a home want to start the search immediately—log into Zillow or Trulia, visit some open houses, meet with a Realtor® and get going. The market is hot right now, so a dive right in is exciting and makes sense, right? However, now more than ever, it makes sense that your first step is to visit a mortgage broker.

4 Reasons to Visit a Mortgage Broker First

1. Know your buying power. Nothing is more heartbreaking than getting excited about and attached to a dream home, only to discover it is out of your reach. Or, from the opposite side, a lot of buyers we meet with are pleasantly surprised to discover that loans are available to expand what they thought was possible. It is incredibly empowering to begin your search knowing exactly what homes are available to you.

A mortgage broker will gather all of your information, understand your hopes and dreams, and help you find a path that will work for you as you search for a home. And especially in a seller’s market, creative opportunities are available to homebuyers that can open up a search to more possibilities—including construction loans, first time buyer programs, FHA programs, down payment assistance programs, and more.

2. Jumpstart your real estate agent’s efforts. A Realtor® is a perfect partner to involve in your home search. Your real estate agent lives and breathes the market, aware of locations, homes on the market or coming soon, and how to help you find the perfect home for you. However—your Realtor® not only needs to know your vision for your dream home, but they will want to know your buying power. Especially in a hot market, the real estate agent wants to make the best use of your time, showing you homes where the sale process will be secure.

A real estate agent will be ready to start a search if you walk in the door with your pre-approval information in hand. If you start with a Realtor®, especially as a first-time buyer in a sellers’ market, you may be sent to a lender before you begin your search because they want to show you the best homes within your reach, and they need to know you can make an offer immediately when you find the perfect home.

Photo by Amy Hirschi on Unsplash

3. Make yourself more attractive to sellers. Currently in many markets, home inventory is limited. This means there are far more buyers than there are homes available. This puts sellers in the position of listing a home and having several offers to compare. If you want to present the best and most attractive offer, you need to come prepared with a pre-approval package that shows the seller you are a solid buyer.

Your mortgage broker can give you pre-approval information that demonstrates your ability to secure a loan and complete the buying process with ease. Plus, a seller can rest assured that you are using a mortgage broker, a powerful partner in the mortgage process who gives you access to lenders and mortgage options, and who will help you navigate the steps to keep things smooth through closing.

4. Ease the entire homebuying process. Buying a home is the biggest purchase most people make in a lifetime. Your mortgage broker does this every day and knows all the steps involved. This partner will ease the process from your first meeting to closing on your new home.

By starting with your mortgage broker, you begin gathering documents needed to secure a loan. Because so much paperwork is involved, it is helpful to take care of some of this upfront, simplifying the process of finalizing a loan.

If you are interested in buying a home, starting with a mortgage broker makes the most sense! Homelend USA is here for you, ready to be your first stop on your way to your dream home. Contact us today to get started!

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