Should you talk to a lender before looking at locations?

Absolutely! Even if you haven't so much as picked out land or space to visit yet, it's important to see your lender first. Why? What can we do for you if you haven't negotiated a price, and don't know yet how much you want to borrow?

When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can afford, and how much we can loan you. We do this by considering your income and debts, your employment and residence situations, your available funds for down payment and required reserves, and some other things. It's short and to the point, and we keep the paperwork to a minimum!

Once you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), which says that we are working with you to find the best loan to meet your needs.

To a landlord or seller, your being pre-qualified gives them the confidence that you are taking the necessary steps to make the deal happen. They won't have to wonder if they're wasting their time. You have the clout of a buyer ready to make the deal right now!

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