Whether you’re already shopping for your next home or just getting started with your research, one of the very first things you should do before you start looking at homes is talk to a lender so you know exactly how much home you can afford.
The last thing you want to happen when you do find your dream home is discover you can’t afford it or get beat out by another offer because you didn’t have a pre-approval letter from a lender.
There are many lending institutions, beyond traditional banks, that offer a variety of mortgage products. Financing options and rates can vary widely, so it is important to do your research and shop around to ensure you get the mortgage that best meets your needs at the best price.