Congratulations! You have decided to purchase a home, or are thinking about buying one. You'll be joining the ranks of hundreds of families who realize that home ownership offers a number of benefits including building equity, saving for the future, and creating an environment for your family. When you own your own home, your hard-earned dollars contribute to your mortgage. The equity you earn is yours. Over time, your home will increase in value.
In the following reports, you'll find the information you need to make a wise buying decision. We'll take you through the planning process step-by-step , to help you determine which home is right for you. You'll find a host of informative articles on mortgages, viewing homes, the offer, closing details and moving.
Please contact me if you have any questions about buying a home in Kansas City or elsewhere in Missouri or Kansas.
It's good to shop for a mortgage before you even begin house hunting. You'll have a leg up, knowing exactly what you can afford, and you'll strike sellers as a serious buyer.
Don't let yourself feel intimidated by the process. Remember that lenders serve you, not the other way around. You'll be paying a lot in interest for many years, so you want to find a lender who'll serve you well and fairly.
Don't just shop, though -- go ahead and get "pre-approved." With a pre-approval or pre-qualification letter in hand, you'll be in a stronger negotiating position when it comes time to negotiate a purchase.
A pre-qualification letter is somewhat informal. It typically costs nothing and isn't binding. It merely says that, based on what you've told the lenders, they're ready to lend you the money -- and it states a ballpark amount you will be able to qualify for. Of course, they may change their mind, especially if you've misrepresented any information. There isn't any (or just minimal) background checking done with a pre-qualification letter.
Pre-approval is a bigger deal. It means the lender has checked out your employment and salary information, your credit record, your assets, and your debts. Many lenders don't charge for pre-approvals, but some do. Being pre-approved is even better than being pre-qualified when you begin house-hunting.
Second opinions in mortgages are JUST as important as second opinions in surgery.