Oh yeah…it happened to me near White Plains New York. But it also happened when I was looking for a house here in Denver. And it just happened to a couple who wanted to pay all cash. They did not have proof of funds that a seller could see. “I have never had to do that before!” But today is a lot different than it was 25 years ago. So enjoy the read and then come back…
Surely, you remember being a child at an amusement park when after having stood in line with your friends and family, waiting to get on a terrific ride, you discovered the sign that read, “you must be this tall to ride.”
Not only was it disappointing, it was slightly embarrassing. You never want to go through that again.
A remarkably similar situation occurs when people are buying a home. After finding the right home and negotiating the contract, they find out that they don’t measure up financially. It’s not something that anyone wants to go through if they have a choice.
Regardless of what you think you know, if you’re buying a home with a loan, you need to physically visit with a trusted mortgage professional before you get serious.
- You’ll find out your credit score which will directly affect the mortgage rate you’ll pay.
- You might discover blemishes on your credit that possibly can be corrected.
- You’ll even get a pre-approval letter that you can submit with an offer which could dramatically affect your negotiations in the current competitive market.
Some rides don’t turn out to be as good as you thought they were going to be. A person certainly doesn’t want that disappointment with a lender. Contact me for a recommendation of trusted mortgage professional.
It would be my pleasure to introduce you to a professional loan officer. Contact me… When I bought my first home in 1972, people took your word you could afford it. It doesn’t seem that way anymore. If you are getting a loan they want a loan officer to say that you can. If you are paying cash they want to see proof you have it.
And if you are an all cash buyer here in Denver, lets talk about how you need to be ready, and what documents the seller will need to see.