A Boutique Brokerage offering expert Representation to Buyers or Sellers-Buying or Selling a Home in North East and North Shore of MA

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ABOUT OUR COMPANY

SEARCH HOMES FOR SALE

OUR FEATURED LISTINGS

DETERMINE YOUR HOME'S VALUE

SELLERS MENU OF OPTIONS

BUYERS MENU OF OPTIONS

FOR SALE BY OWNER INFO

PREAPPROVALS

MORTGAGE CALCULATOR

FIRST TIME BUYER COURSE

REAL ESTATE ARTICLES

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Options Real Estate
220 Humphrey Street #201
Marblehead, Massachusetts 01945

Phone: (978) 979-0845
Fax: (781) 631-2360
Email: optionsre@aol.com

Pre-approval is necessary prior to home shopping

We can refer you to top-ranked mortgage lenders who will guide you in the pre-approval process, provide letters necessary for offers, or coaching. Our preferred lender partners will assist you in seamlessly financing your next transaction.

Before Buying- Step One: Get Pre-approved

Before shopping for a home, it is important to know how much of a mortgage payment and down-payment you can afford. Many of today's sellers will permit their real estate agents to show their properties to "pre-approved buyers only" or will only accept offers based upon the buyer providing evidence of their pre-approval by a reputable lender.
Also, during the pre-approval process you will learn valuable information about your credit rating, any errors that may be lurking in your credit report, information about various mortgage products, and of course, how much home you can afford prior to shopping. The lender should generate a pre-approval letter for you which you should provide to your real estate specialist who is showing you properties as this is often a requirement of viewing a property or a pre-requisite of acceptance of any offers. To be an informed consumer it is really the very first step in home buying. For these reasons, it is in your best interests to attain a pre-approval from a reputable lender of your choice.

Further Mortgage and Lending Information

In my site, you will find a mortgage calculator to help determine payments. Also, you will find links where you may search the internet for necessary information, and links to specific mortgage search sites that can assist you in finding a lender. My advice is to fully research any mortgage lender prior to utilizing their services, ensuring that they are adequately licensed and to ask trusted sources for referrals.
A good place to begin is the Better Business Bureau, or State Attorney General's office or Division of Banking. Be wary, there are good and bad out there.
Every borrower's needs are different, some prefer to use their local neighborhood bank where they have a relationship, others use mortgage brokers, internet lending sites, and others use the larger mortgage companies or anything in between. Remember, whichever lender you decide upon, always use your common sense, and, if an offer sounds "too good to be true", it probably is.

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