Before You Start Get Pre-Approved

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Why You Should Get Pre-Approved Before You Put In An Offer

So your ready to begin house hunting here in Nashville, TN?  That's Great but let us offer a small suggestion that will help you in finding your perfect house, and getting it for a price you can afford.  Start with a Mortgage Pre-Approval process from one of our local lenders. 

How Much Can I Afford?

That's the ultimate question that all home buyers want to know.  We all want to know how nice and how large of a house we can afford.  This is the first step of the home buying process.  It would be a big dissapointment to go through the process of finding a home only to find out that it was out of your budget. 

When purchasing a home, it is important that you take into consideration the amount of money you may spend on a monthly basis for your payment.   Most realtors, or even our own website, will furnish you with a payment calculator which computes the funds necessary, monthly, to satisfy a mortgage lender. The general rule in taking out a mortgage is to put down the largest payment possible, in order to achieve the lowest monthly payment possible.

Currently, the amount of mortgage interest which you pay monthly, as well—in some cases—as the “points” or funds you pay to reduce the principal of the mortgage and satisfy the lender—can be treated as a tax deduction. Future deductibility from your Federal and/or State Tax liability is not guaranteed, so check with your financial advisor prior to assuming this is a given set of conditions.
 
Strengthen Your Bargaining Position
 
The additional benefit of finding out exactly how much you can afford is it can drastically help you negotiate a deal of choice.  When a buyer can see that you have already been approved for the amount you have negotiated they are more willing to meet you in the middle.  Make sure however that if you negotiate a price that's lower than what you've been approved for that you ask your lender to provide you with a pre-approval letter for the amount of the purchase price in the contract. 
 
Contact one of our Approved Lenders Here.  If your Already pre-approved then the next step is choosing a Real Estate Agent.