Jackson County Real Estate: First-time Home Buyers: The first step is the pre-qual!

First-time Home Buyers: The first step is the pre-qual!

So, I have begun thinking it would be a good idea to dedicate a section to first-time home buyers here on my blog.  I know there are so many of you in my area of the country and it continues to grow in leads and bounds because of the Military members moving into Altus AFB.

Before I begin showing homes to a first-time home buyer, I like for them to get a pre-qualification letter from a reputable lender.  (I'll discuss how to go about finding a lender you can depend on in a bit.)  The pre-qual just requires you to give very basic information, usually over the phone, to the lender in order to get a ballpark price of the home that you will be able to buy.  This helps you keep from seeing homes that you wouldn't be able to qualify for and, by looking in your price range, gives you a realistic idea of what is out for you.  The pre-qualification loan amount can usually be tweaked after you sit down and do loan paperwork with the lender you have chosen, but having it helps you to more easily find a home for you (and your family, if you have one).

Finding a lender can sometimes be a tedious process.  I like to provide my buyer clients with a list of lenders in the area and their contact info.  Sometimes clients will ask me for a recommendation and I will give it to them when I am asked, but otherwise I let them call from the list.  The list I give to my clients is quite extensive and lists all lenders that I can think of within a 50+ mile range.  I also include things such as the credit scores that are required (and I change it when necessary) by each lender.  I think this is very beneficial to those who use me as their REALTOR and I will continue to offer these lists.  Above all else, you should always feel comfortable and trust the lender that you have you a home loan with, so tread carefully with your loan proceedings until you find that one, perfect-for-you lender. 

I want any and all first-time home buyers who work with me to feel like they have received the best possible service and refer me out to all their friends, family, co-workers, and acquantances, even.  I love the community of Altus, OK and I love show off all the opportunities, hidden or otherwise, to everyone I come in contact with.

Cooler temperatures and beautiful fall weather is just around the corner!  If you're a first-time homebuyer in the Altus area, I'd love to sit down and discuss all that home ownership has to offer you.  I specialize in Military relocations and working with first-time home buyers.  Being an Air Force spouse who has made many moves over the years, it offers unique perspective with those who are moving into our community because of the Military.  Being from this area originally gives me a perspective of working with those who have always called Altus (or any of the neighboring communities) home, but are now ready to have their first taste of the American dream - home ownership.

I look forward to working with those of you in the Altus and Altus AFB area soon!  Happy house hunting!!

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Renae Pretty, Realtor ~ Main Realty of Altus

Call me for Altus and Altus AFB area homes for sale ~ (580) 480-5601

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Comment balloon 5 commentsRenae Pretty • September 15 2011 11:03PM

Comments

Yes you are right, the process of Pre-Qual can be challenging and nerve racking.   Love it when I find someone who gets in there and rolls up their sleeves to help buyers get on track.

Posted by Yvonne Burdette-Van Camp, "Home"work, I have the Answers! (To Buy and Sell Real Estate, see me at Southwest Missouri Realty) about 7 years ago

Wow, all lenders in a 50 mile radius, that sounds like quite a list.  I usually try to give a smattering of brokers, direct lenders, large banks and community banks.  That generally covers what most people are comfortable with, but I think the more the merrier!  Great post, first time homebuyers are so fun to work with, my absolute favorite clients.

Posted by Kym Wright (Prudential California Realty) about 7 years ago

Well, the 50 mile radius around here isn't that populated :)  I also like to give a list of home inspectors (general and specified), but that list isn't too long either :)

Posted by Renae Pretty, GRI, e-PRO, MRP about 7 years ago

I'm amazed at how many first time buyers are surprised to learn that a pre-approval is a great step in getting that special house. In today's market, they'll need it if the home they find id a short sale or foreclosure.

Posted by Margo Currie (Exit 1 Stop Realty) about 7 years ago

This has to be the biggest misconception that buyers have, if they are not pre qualified, they are not really buyers unless they have cash!!!

Posted by Mary Macy, Top Agents Atlanta Metro (Top Agents Atlanta Metro) about 7 years ago

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