Q&A: Should I talk to a loan officer?


Should I talk to a loan officer before searching for a home?


Yes! It’s always advisable to speak with a loan officer and get pre-approved for a mortgage loan before starting your search for a new home.

First, it lets you know exactly how much home you can afford. This will save you valuable time in looking at homes that are too pricey for comfortable affordability. It also saves you from heartbreak if you get attached to a home that’s not realistically affordable for your family.

Secondly, if there are issues that may arise with your loan approval, it gives you the knowledge and ample time to get your financial affairs in order. Why waste all your energy looking at beautiful homes and getting your hopes up, just to be denied the mortgage in the end?

Third, it gives you a realistic idea of how much it costs to buy a home in terms of down payment, closing costs, escrow, etc. In addition, it informs you of how much money you will need to bring to the closing table.

Deborah Reece