Many people think that when you want to buy a house, you should first contact a realtor. That’s not necessarily true. There are many reasons why it’s better to start with a lender versus a realtor. It’s also important to remember that the lender you choose is really important as well. Mortgage brokers research a variety of loan options from multiple lenders and find the best mortgage for your financial situation. At Edge Mortgage Inc. we are your trusted source for home mortgage lending in Colorado, Nebraska, Ohio, and Wyoming. We take pride in our speed and quality of service. As a result, we typically have same-day approval once the application has been completed and offer top-notch experience all around.
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If you’re gearing up to buy a home, you might be wondering whether to start with a lender or a realtor. While both professionals play crucial roles in the home-buying process, I’m here to share why it’s better to start with a lender versus a realtor. Let’s dive into the main reasons you’ll want to give Edge Mortgage Inc. a call before reaching out to your favorite realtor.
Why It’s Better to Start With a Lender Versus a Realtor
Knowing Exactly What You Qualify For
One of the biggest advantages of starting with a lender is that you’ll know exactly what you qualify for. When you get pre-approved for a mortgage, a lender will assess your financial situation and give you a clear idea of how much you can borrow. This step is essential because it sets your budget from the get-go.
Imagine finding a house and falling in love with it, only to realize later that you can’t afford it. That’s a heartbreaking scenario that you can avoid by getting pre-approved first. With a pre-approval in hand, you can focus on homes within your budget, saving time and emotional stress.
Creating a Financial Plan Early
Starting with a lender also allows you to create a solid financial plan early on. By understanding the full cost of homeownership, including down payments, closing costs, and monthly payments, you can plan your finances more effectively. A lender can help you map out these costs and develop a savings plan if needed.
Knowing your budget upfront also streamlines the home search process. You won’t waste time looking at properties that are out of your price range. Instead, you can target your search to homes that fit within your budget, making the entire process more efficient.
Addressing Credit Issues in Advance
Another reason why it’s better to start with a lender versus a realtor is the opportunity to address any credit issues in advance. Your credit score plays a significant role in determining your mortgage terms. A lender can help you understand your credit report, identify any issues, and provide guidance on how to improve your score.
Taking care of credit issues early can have a big impact on the interest rate and terms you qualify for. By improving your credit score before you apply for a mortgage, you can potentially secure a lower interest rate, saving you thousands of dollars over the life of the loan.
Additional Benefits of Starting with a Lender
Customized Loan Options
Lenders offer various loan products tailored to different financial situations and home-buying goals. Starting with a lender allows you to explore these options and find the best fit for your needs.
Pre-Approval as a Negotiation Tool
Having a pre-approval letter in hand makes you a more attractive buyer to sellers. It shows that you’re serious and financially ready to make an offer, which can give you an edge in negotiations.
Streamlined Process
Starting with a lender can streamline the entire home-buying process. With your budget set and pre-approval in hand, you can work more efficiently with your realtor to find the perfect home.
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While both lenders and realtors are essential in the home buying process, starting with a lender offers significant advantages. From knowing exactly what you qualify for and creating a financial plan early to addressing credit issues and streamlining the process, starting with a lender sets you up for success. If you’re ready to start your home-buying journey or have any questions about why it’s better to start with a lender versus a realtor, don’t hesitate to reach out. My team and I are here to help you get pre-approved and find the best mortgage for your needs. Contact us today!
Read some 5-star reviews from our happy clients
“Keri and Edge Mortgage made our dream a reality. Keri was very professional and knowledgeable about the entire process. She went out of her way to make sure we were always informed on where we were in the process and what was next. Great experience. Would highly recommend Keri and Edge Mortgage.” -Gary
“This was my first home loan and Keri was very easy to work with! She made the process of getting a mortgage a little less daunting, she made sure to keep my fiancé (now wife) and I informed without making it feel overwhelming. Any time we encountered something that looked like it might be a problem to me, Keri helped walk us through it and we were able to make it to closing day! I would definitely recommend Edge Mortgage, Inc. to anyone looking to purchase a home!” -Nathaneal
Edge Mortgage Inc. is your trusted mortgage broker serving Colorado, Nebraska, Ohio, and Wyoming
Edge Mortgage Inc. is located in Johnstown, Colorado, and serves all of Ohio, Colorado, Wyoming, and Nebraska. We offer honest answers and a stress-free process and we have no hidden or extra fees, keeping more money in your pocket. We are your trusted mortgage broker and we are ready to serve you. Call us today at 970-744-0000.
You may also be interested in reading: Down Payment Assistance: Making Homeownership Accessible
