Carlos Ring
Regarding Home Loans - Get Qualified

When searching for homes in the Greater Daytona Beach area, there are a few things to consider before you start viewing homes right away.  Besides working with the right real estate agent the most important thing a buyer must do is make sure they have good enough credit to purchase a home.  The best way to find out if your credit is good enough to buy a home its to connect with a mortgage broker, lender or bank. 

Let's face it. Buying a home in Daytona Beach is no small matter.  For most people buying a home is the biggest investment they will ever make, the biggest debt they will ever carry and most people will spend more money on a home than anything else they will ever buy.  I think that is reason enough to be approved for a mortgage before looking for homes.  Need more convincing?  

1.  Think about this, most listing agents advise Daytona Beach real estate sellers to request an approval letter.  Many times the approval letter is part of the negotiations meaning sometimes an approval letter can make the difference in your real estate transaction negotiations.  Sellers need to feel confident that they are doing the right thing in their minds.  Sellers need reassurance and an approval letter is one of the things that could end negotiations and be without one can prevent them from starting. 

2.  Another reason why you should be approved for a mortgage before looking at homes.  Some Daytona Beach properties offer that special something and it's usually a brand new listing and every REALTOR in town shows the same home to their buyers.  Multiple offers are written, multiple offers are submitted.  Seller has to choose its usually best terms and price and any type of docs for verification that a buyer can close on the house usually that's the buyer who gets to move into the home!  Multiple offers happen and the home in which you call paradise someone else may feel the same. 

3.  If you are not qualified how do you know how much home you can afford?  Don't assume that you'll get credit easily and quickly.  Obtaining credit and qualifying for a mortgage is stricter and much more regulated these days.  If you start looking for homes in a price range you cannot afford chances are when you are ready to look at homes that you can afford you'll find with the smaller price usually comes with smaller houses or fewer amenities.  This can be extremely disappointing for someone who fell in love with a home from the higher price range.  Don't do this to yourself and get qualified for a mortgage.

We hope you found these tips useful when it comes to obtaining credit and getting qualified for a mortgage.  Interested in knowing just how much you qualify for a home?  Contact us.