Have You Called Your Banker Lately?

Colorado Expert Jeff Hansen, Realtor, "jeffhansencolorado"
- 4.7/5.0
- (10 reviews)
Contributions:105

When was the last time you talked to your lender? Most buyers think that getting a loan is impossible so they don't even try to find out if they can qualify. Chances are, you can. But, you will never know if you don't call!

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January 06 - US

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Replies (3)

Bob Willett, "SacRELender"
- 0.0/5.0
Contributions:194

Thanks Jeff! Excellent post! In my experience the biggest mistake people make is not speaking to a lender early enough in the process. Most of the lenders still in the business are very professional, and they have a wealth of knowledge and understand of what it takes to buy in this market. But until you speak with them, you won't really know where you stand, what things need work, how much money will be needed, how much house you can buy, what the payments will be, etc. There is nothing more frustrating that meeting with clients that have been working on things for 6 months or more, but they were the wrong things.

If you think you want to buy a home – someday - there are two things to do: 1) get some homebuyer education, and 2) speak with a lender. It will make the experience so much less stressful.

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January 06

Sharon Lewis, "Sharon Lewis"
- 5.0/5.0
- (23 reviews)
Contributions:3917

Love that you both posted here, its good information, clear and succinct.

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January 07

Wes Black
- 5.0/5.0
- (4 reviews)
Contributions:509

Great suggestion. Fear of either providing info to a lender or not being able to handle rejection is keeping a lot of buyers out of the market. Encouraging them to check in with their local bank is a worthwhile task.