How To Avoid Paying Too Much For Your Home - Tip #2

SIMPLY PUT, PAYING TOO MUCH CAN JEOPARDIZE THE INTEGRITY OF YOUR INVESTMENT. HERE’S VITAL INFORMATION TO HELP YOU AVOID OVERPAYING FOR YOUR HOME.

A Special Report Prepared By: Erich Salas

Tip No. 2

Shop for a mortgage before you shop for a home.

Getting a loan preapproval is the smart way to shop for a home. It tells sellers that you’re a serious prospect, and you know in advance the maximum mortgage you can afford. Make sure you get a commitment in writing. I’ve seen many buyers make the mistake of learning what they qualify for but not getting that preapproval in writing.

The good news is that it’s still fairly easy to qualify for a home loan as long as you have good credit and a steady job. Lenders have modified qualification rules and created programs designed to help people even if they have problems in their credit or employment histories. Many programs call for dramatically reduced down payments—the biggest obstacle for first-time home buyers in particular.

If you don't have a preferred lender or you have questions regarding loans please go to my website at www.ErichSalas.com and contact me with your questions.


Erich Salas