Kitsap County Real Estate Articles

Rich is known nationally as a writer. He has hundreds of Real Estate related articles published and re-published on a variety of websites across the internet.

Below you will find one of his many artices, written for consumers. The primary focus of these articles is Kitsap County real estate.

View articles Rich has written for SoundBiteBlog here.

View articles Rich has written for AgentGenius here.

View articles Rich has written for ActiveRain here.

Good Lenders Don't Fall out of Trees

This is the first in an on-going series of articles dedicated to helping 1st Time Home Buyers successfully achieve their purchasing goals. Each time, we'll identify and discuss, in chronological order, key events in the home buying process.

Today’s topic: Mortgage Lending and Loan Pre-Approval

The first step in your home-buying adventure should be to find an experienced mortgage loan specialist. Before you start the home-search process, you need to know if you're in a position to purchase a house, and at what price. A seasoned mortgage professional will be able to review your current financial status and determine if buying a house is a realistic and prudent goal for you. Sometimes, people need to pay-off some outstanding debts first, or repair a past credit problem. A qualified loan specialist can help you to formulate a game plan for working through these issues. The next step is to help you select a loan product this best suited for your specific needs. Years ago, buying a home required a  substantial cash down payment. Now days, there are many creative programs available, specifically for 1st Time Buyers, making it easier than ever to qualify for a home purchase. Once your mortagage specialist has reviewed and verified all of your financial information, and helped you to select a particular loan product, they can then determine a suggested price range to fit within your budget. This price range will serve to drive your home searching process. Many times, a loan pre-approval letter can be provided by your lender, helping to better portray you as a strong, qualified Buyer.Here are some helpful suggestions:

• Identify, interview, and evaluate at least 3 different lending sources. Obtain recommendations from your real estate agent or friends.
• Ask lots of questions. The folks at Olympic Northwest Mortgage states there are 3 key elements to finding a good loan specialist: They need to be knowledgeable and willing to take the time to educate 1st time buyers. They need to have the ability to empathize with people, understanding their individual needs and issues. And there needs to be a relational chemistry between the Buyers and their mortgage specialist.
• Use a local lender. It makes sense to work with someone who knows the nuances of your particular market and can respond quickly to any issues that may arise. It's also easier for area agents and title/escrow offices to coordinate the transaction with local lenders.
• Don't shop for lenders based solely on the interest rates they quote. Just because someone offers you the lowest rate doesn't always make them the best choice.

Having a knowledgeable mortgage specialist as part of your team will help you to successfully achieve your home-buying adventure!