Just got off a bizarre phone call that I HAD to tell you about.
We’ll call her Veronica. (Names are changed to protect the innocent.)
Veronica calls my office nearly dizzy with excitement. “Reed, we finally found it! We’ve been looking for so long. This is the PERFECT home for us. With the baby on the way and Josh’s deployment coming up, we need to get moving. What do we need to do to get a mortgage for it?”
I slowed Veronica down and congratulated her for taking the first BIG step for their family.
“I can get you pre-approved to get the ball rolling with just a few pieces of information from you and Josh. From there I’ll grab your credit score and debt-to-income ratio and see what kind of payments you might be looking at.”
(Radio silence.) Then…
“Um…our credit score? Wow. Our credit score. Mine or his? And what do you mean about payments? We have about $1400 a month we can afford to spend.”
I could feel her panic setting in.
You see, Veronica went house hunting without a pre-approval. She was set up for disappointment from the beginning.
She and Josh had no idea how the process worked and got their cart before the horse. As we all know, that can lead to soul-crushing disappointment.
Had they come to me before home hunting they would have known exactly what price range to stick to. (It makes the hunting easier and gives you a stronger position to negotiate from.)
Knowledge, in this case, is power.
Maybe you are like Veronica and Josh. Ready to get started on your first home purchase. Before you get too attached to a particular property, let me help you determine what your home buying potential is. This is what all home hunters ought to know before they get started.
Or maybe you know a “Veronica and Josh” ready to head out on their own. Go ahead and forward them this blog post to give them a leg up on their journey. They’ll thank you for it later.
By the way, turns out Veronica was worried about nothing. I have a few different loan programs that fit their situation. I just wanted to email you real quick as a bit of a cautionary tale.
Looking forward to meeting you and helping you create lasting memories in your new home!
To claim your FREE pre-approval call 719-445-2959 or click the link below!
Reed Letson is a Mortgage Broker and the Owner of Elevation Mortgage in Colorado Springs, CO. His personal mission is to help military veterans and first-time homebuyers secure affordable home loans to create a lifetime of memories. To get started visit www.elevationmtg.com today.
