If you are looking for a new home in 2021, you will realize quickly, that the market is incredibly fast-paced and not for the weak at heart. Never fear! After several decades of this thing we call life, I’ve learned some tricks…at times, the hard way. While at the time, that was bad for me…it will be a great learning tool for you. So, here is the first piece of advice to navigate moving…2021 style!
The very first thing you want to do before the process ever begins, is to concentrate on hooking up with the best lender possible. Unless you are flush with cash, when you buy a home, it will be your most significant financial decision in life. Just like Proverbs says…”the borrower is servant to the lender”…so choose the right one.
Choosing right doesn’t always mean the easiest. If you find yourself on the couch one evening and “low bob’s discount mortgages” flashes a number across your TV screen, get up and go make some popcorn. You don’t want a fly-by-night TV mortgage company promising you the moon and delivering a cardboard cutout.
Get your pre-approval FIRST, from a local bank or mortgage company! These people live in your town, attend your church, see you at your kid’s sporting events and the grocery, and they are the ones you want to deal with. You want to build a relationship with this group of people and they will walk across hot coals to help you. Case and point…my local bank. I’ve done 3 or 4 mortgages with my bank. They know me and they know my specific needs. When I pulled up to the ATM last year and it was down, the teller opened the door and walked out to the car and said…”how much do you need, Susan?” Thankfully it was just $20 for lunch, but without question, I had it 30 seconds later…delivered with a smile…and I was on my way.
Armed with your pre-approval, you know before you start how much house you can afford, and you are ready on-the-spot to make an offer on your new home. This is a fast market. Know your lender, know your limits and then know your new home!