When it comes to real estate, it’s all about location, location, location. But to get the mortgage
for the house with the great location, it’s all about timing, timing, timing. Thankfully, there’s a lot you can do to be ready to buy when the house you want hits the market. And by taking these steps, you can assure that the house you want, or “the one,” doesn’t become “the one that got away.”
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Think back to when you could buy concert tickets in person. Standing in line might have been a pain, but it was nothing compared to now, where you have to stand in a virtual line with thousands of others. Sometimes, your request might not even go through. That’s the difference between working with a local bank
and working with a bank that’s completely virtual (or one that doesn’t have a branch in your area). Local banks are open when you need answers, so you can walk in and talk to your mortgage banker directly.
Even better, NBC uses an underwriter who lives where you live. In a competitive housing market, you want the best chance at getting the house you want. And having everything available locally is a great way to guarantee things are moving as quickly as possible.
Get pre-approved instead of just pre-qualified.
For a more in-depth explanation of these two terms, check out our post on the difference between pre-approved and pre-qualified
. In short, getting pre-approved brings you one step closer to getting a mortgage and putting an offer in on a house.
Find a mortgage banker you can trust.
Relationships are important when buying a home. You want to work with a real estate agent and mortgage banker you trust and feel confident in, because those two can connect you with the other professional help you’ll need along the way, such as home inspectors and even contractors — should you decide to do any work on your new home. To dive deeper into mortgage banking, check out our post on finding a mortgage banker
The more you know and do upfront in the home buying process, the better equipped you’ll be to make the best financial decisions.