MORTGAGE Minute -- Meredith Plummer As Realtors®, we are accustomed to wearing many hats. From being a listing and selling agent, to a private investigator to a sometimes therapist, agents fill many roles. One of the most important roles we take on is that of an educator. Your Realtor® will help you learn about all sorts of aspects of home buying. Getting a home financed and to the closing table is one of those lessons! It’s our job to help make your home sale or purchase as smooth as possible and in order to do that, we need to start off on the right foot. Even before a buyer starts looking at homes to purchase, we recommend that they begin working with a lender. There are several different types of lenders that buyers can work with. Some people choose to go to their local bank or credit union while others choose to work with mortgage companies whose sole business is mortgages. Whoever you choose to work with, there is some basic information you need to understand. First and foremost, the relationship between you and your lender is an important one. It’s based on trust and finding a lender you can communicate well with is vital. Garrett Bennett, Branch Manager of Homestar here in Warner Robins says: “everything we buy, from underwear to a car typically takes one day. We pick it out, pay for it and leave immediately. However, a house takes about 30 days to buy. Buying a house can be a tedious, detail-oriented process. It can also be very stressful. Having a good relationship with your lender is very important. The buyer needs to trust their lender and know the lender has their best interest at heart.” We recommend that buyers work with a lender before house shopping for a few reasons. The first is that many online “mortgage calculators” aren’t giving consumers the whole picture. Do you know what to put in for taxes and insurance? Here in Middle Georgia, DID YOU KNOW? Pre-qualified vs. Pre-approved There is quite a difference between being pre-qualified with a lender and being pre-approved. If you are “pre-qualified”, the lender has done a preliminary look at your situation, but for the most part, their recommendation is based on the information that you provide. If you tell them you 28

29 Publizr Home

You need flash player to view this online publication