Buying Utah Real Estate? Get Pre-Approved for a Loan ? Citycita

Is it finally time to invest in some Utah Real Estate? Do you want to get a home of your own and quit renting? The market is definitely good for buyers right now, so if you are in a position to purchase, there are good deals to be found. There are a few steps you can take that will ease the process and make buying a home a pleasant experience for you.

Find a Lender

For most people, their home is the biggest investment they will ever make. Before you run down to the bank where you?ve always gone and get loan pre-approval, do your homework and find out which lenders offer the best interest rates and which have good reviews from their customers. Find out what fees they charge, and what happens if you make a late payment. You can ask your friends, ask some realtors you know, and you can read online ratings and reviews. These are very helpful when you are choosing a mortgage lender.

Get Pre-Approved

Once you have chosen the lender, make an appointment to go in and get pre-approved for a home loan. Take all your financial information with you. The loan officer will be able to give you a fairly good idea of what you will qualify for even before the pre-approval goes through. Pre-approval is better than pre-qualification because it is more certain. You already know that you will be approved and so it puts you in a great bargaining position when you go to make an offer on some Utah Real Estate. The seller knows you are a sure thing and so will be more likely to accept your offer.

Set Your Budget

You know how much you need each month to live and so don?t be tempted to buy more house than you can comfortably pay for. It is no fun to have to forgo all your entertainment and vacations just so you can pay the mortgage.

Source: http://www.citycita.org/buying-utah-real-estate-get-pre-approved-for-a-loan/

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