“ Your agent can help guide you through the financing process .”
7 | HOME FINANCING
GET FINANCING FIRST
Getting pre-approved for home financing early in the buying process is commonplace . Unlike pre-qualification , which is simply a quick estimate of your borrowing potential , pre-approval is a formal approval of a specific mortgage amount - typically the maximum you can borrow . And you ’ ll receive a Good Faith Estimate of your closing expenses . By initiating the mortgage process early , you ’ ll know exactly how much house you can afford , and you ’ ll have an edge over other buyers in multiple-offer or negotiating situations .
73 % of buyers found a lender through a financial institution
69 % of buyers found a lender through a referral
SPEAK TO A REPUTABLE LENDER
There are many kinds of mortgages available with different rates and features . Meeting with a reputable loan officer will help you navigate through all the options .
“ Your agent can help guide you through the financing process .”
FULL SERVICE BROKERS
Some brokerages , like HUFF Realty , offer affiliated real estate services including mortgage . While this one-stop concept can streamline the buying process , there are frequently other settlement service providers available with similar services . You are free to shop around to determine that you are receiving the best services and the best rate for these services .
77 % of buyers get pre-approved from a lender before finding a home . 2
HOW BUYERS FELT ABOUT THE MORTGAGE APPLICATION & APPROVAL PROCESS 1
20 % 24 % 17 %
Easier than expected
43 % 36 % 48 %
Not difficult / No more difficult than expected
CLICK HERE TO LEARN MORE ABOUT
THE MORTGAGE PROCESS
Tyler Minges , HUFF Realty | BUYER ’ S GUIDE TO REAL ESTATE
23 % 27 % 21 %
14 % 13 % 15 %
ALL BUYERS
1ST TIME BUYERS
REPEAT BUYERS
Somewhat more difficult than expected
Much more difficult than expected