What to do first?
First: Cash or mortgage?
Start by deciding how you will pay for your new home. Are you paying cash or will you need a mortgage? If you are paying cash, do you have liquid funds readily available now or do you need to move money or withdraw from investments? If this applies to you, we will want to build that information into your offer to purchase a home.
If you need a mortgage you will want to talk to a local lender. Local lenders know what programs are available in our area whereas an online lender may not be aware that certain local programs exist. We are fortunate to have several qualified quality lenders in Michigan.
The lender will go over your assets and debts and will advise what type of loan program works best for you. The lender will provide a preapproval letter for you to go shopping. That letter will list amount of purchase and type of loan. This information is helpful for your realtor so we can find the right home for you. Some homes qualify for certain types of mortgages and others do not.
If you would like references for qualified local lender, Contact Us. We have a few suggestions for you.
Second: Let’s go shopping!
Now that you know what price range you prefer, let’s see what homes we can find currently on the market. When financing with a mortgage, we will pay attention to the type of loan program that you will use because some homes will only finance with some types of mortgages.
Do you know what you are looking for in a home? Let’s find it for you.