Written by: Reena Shah

For most people, securing a mortgage is the single most important part of buying a home (aside from choosing the home itself). With a variety of available loan types and products, you’ll probably benefit from guidance in figuring out what will work best for your situation. The Kelly Team has a great group of trained experts to help you. Below we’re sharing some tips to help you better prepare for the process, but if you have additional questions, our team is always ready to answer them!

Here’s what you need to know when it comes to a loan consultation:

The Earlier, the Better

It’s never too early to get a loan consultation. Many people do not even realize that they qualify for home ownership. Even if you are not yet qualified to buy, a Loan Officer can provide insight into what steps to take in order to qualify in the future, and how long the process may take. Also, the earlier you speak with a Loan Officer, the easier it will be to work with your Realtor because you will be able to give them a better idea of your financial status and/or home-buying limitations.  

Buy with Confidence

Once you have met with a Loan Officer, you’ll know more about the type of home you can realistically afford. With loan approval, you can determine your price range and shop with confidence for the right home for your budget. Also, preapproval will increase your negotiating power. A seller is more likely to accept an offer if they know you have the funding to back it up.

Balance Your Loan Around Your Life

Many people hesitate to get a consultation because it seems like a scary process that may result in bad news. There’s also a bit of fear that coincides with sharing personal financial information. What few people know is that you can create a loan that fits your lifestyle. There is no “one-size-fits-all” when it comes to loans. By sitting with a Loan Officer to discuss your financial goals, you can tailor a loan to meets your needs. A Loan Officer can also help you identify where to make adjustments in your lifestyle to accommodate your new financial situation in order to become preapproved for a loan.

While it is true that home-buying can become a stressful process, our Loan Officers are here to help you navigate your options. Contact the Kelly Team today and speak with one of our Loan Officers to get started today.

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