3. Talk To A Bank

In step 1, you’ve set your budget and after step 2, you’re hired an agent who will help you find a house within that budget.

Now it’s time to talk to the bank to make sure they will lend you that amount.  

There’s two reasons you should talk to the bank at this stage :

  1. You want to be sure you can qualify for the loan you want. You don’t want to waste your time looking at houses that are out of your budget.

  2. When you find a house you like and want to submit an offer, the seller will want proof that you are qualified to buy the house. If you wait until you find the house you like before talking to the bank, you’ll lose valuable time waiting on the bank and during that time, somebody else could bid on your dream house.

It’s a very easy process, just call your bank or mortgage broker and tell them that you would like to buy a house, you’ve worked out how much you‘d like to spend and can you get pre approved for that amount.   Normally this can all be done over the phone in 15 minutes. Very quick, very easy and they should have an answer to you within 24 hours.

Continue to Step 4: Look At Houses

Got questions ? Contact me darragh@empirecharleston.com or 843 452 2325