San Diego Real Estate Blog

Let Me Have My Lender Call You

I get many requests through emails, phone calls contacts from my San Diego real estate web sites and blogs asking information on buying a home or showing requests on our listings and REO’s. I work very methodically and although I can be flexible experience has taught me that procedure needs to be followed for helping clients achieve their dreams. Before I start showing property and in many cases emailing properties I will always have my new home buyer pre-qualify with one of the lenders I work with. If the buyer already has a lender I will ask them for their lenders info so I can call them and talk with them. I want to know what loan amount they can get to see what price range to show then homes or condos in.

Knowing purchasing power and monthly payment comfort zone is very important before a buyer gets far down the road of buying a home they can’t afford or looking in a price range that is too low for what they can afford and want to buy. I equate it to knowing how much many is in your pocket before you go shopping. Unless you’re using credit or a check you would need to know how much cash is in your pocket before you went into the grocery store and started filling up your cart. Some people find that they have no money in their pocket and can’t buy right now while others realize that they can buy groceries for a month. Before you buy a home or even start seriously looking a buyer needs to know how much the bank will loan them and what the monthly payments will be.

Buying a Home you need to know how much you can buy Once the buyer speaks with a lender then the buyer knows their home purchasing power and their agent knows in what price range to start looking in. To me this is at the very beginning stage of buying a home. I’ve noticed many inexperienced Real Estate Agents not guide their home buyers in the right direction by having them contact a lender upfront. It’s sad when the agent shows property to the new homebuyers for months, find the perfect home and then realize that the home they want is priced at $500,000 and they can only get a loan up to $300,000. It turns into a waste of time for everyone involved and shows the client how inexperienced the agent is. If you’re buying a home in San Diego make sure you call us and we can have one of the great lenders we work with call you.