Why get Pre-Approved first?

As a Buyer, getting pre-approved prior to viewing homes is an intelligent play, here's why:

After making the decision to look into buying a new home, the first thing you want to do is talk to a good realtor or lender. In either case the good ones always work with one another. All banks and loan originators like most things aren't created equal. This is where you may waste thousands over years on the wrong type of loan or end up with a loan that doesn't suit your unique situation. Here are 3 things you need to know:

  1. Getting Pre-Approved before getting out and shopping allows you to gauge realistically where your comfort zone is by correlating your budget & potential monthly payment which equals the price range you'll be looking in. It's also courteous to the seller's, realtor and yourself by not wasting anyone's time viewing homes that aren't matching your budget.
  2. Loan Types: There are many loan types ranging from 100% financing to 30 year fixed mortgages and everything in between. There are special loan types such as V.A. (Veteran), U.S.D.A., "In House", A.R.M. Private Money Investor, F.H.A. etc... Knowing why you chose the loan you did is a must when being smart.
  3. Grants, Tax Incentives are also available on a federal, state, county and City level at varying times. You may build in instant equity if you're working with the right professionals.

We know the the programs that will work best for your situation in the Cedar Rapids and  eastern Iowa areas. We work with the lenders who work as hard as we do and will you put you in touch!