Get Loan Approved before finding a home

Get loan approved!

I hear buyers say, “I know that I can qualify for what I’m looking for! I will find a lender once I have found the home that I’m interested in”.

In The El Paso real estate market today, if you do not submit an approval letter from a mortgage company at the same time as you submit an offer, your offer will more than likely not be presented.

The real estate market has changed. Getting financing is not the slam dunk that it used to be and lenders requirements are much more stringent. So if you’re a buyer in the El Paso real estate market, you should position yourself as the absolute strongest buyer that you possibly can. It’s going to reduce stress in the buying process and allow you to negotiate the best deal you can.

In my opinion, using some of our local lenders also is an advantage because they use local underwriters who know our market as opposed to out of town underwriters who may lump the El Paso real estate market with real estate as a whole and that can cause some unfair biases. Another reason to use local lenders that have been recommended by your real estate agent is, the agent through experience has assembled a team of professionals that are critical to having a smooth stress free closing for your benefit. The lenders that they recommend are ones that have proven to be competitive, reliable, responsive and honest.

So when you’re out looking for a home and your agent recommends that you get loan approved they are insuring that your transaction flows smoothly and stress free and ultimately you are the winner.