Who do I meet with first, my Realtor or my Lender?

July 23, 2013

Many people are unsure of who to meet with first, a lender or a Realtor. To understand what you can get for the money, meeting with a loan officer is the first step every Buyer should take. This will give you the knowledge of what price range will work best with your budget. Getting pre-approved is an important piece of the puzzle and is a requirement in order to purchase a home. The approval letter not only gives you the power to buy, it also lets the sellers know you are approved for the amount you are offering. It’s never fun to fall in love with homes that aren’t affordable or don’t work with your specific financing.

Once you’re approved, meeting with a licensed Realtor is the next step. You may do your research via recommendations from family and friends, or search the internet for the right Licensed Realtor for you. Finding the Realtor that best fits your needs is very important when you are making, potentially, the largest purchase you will ever make in your lifetime.

Not ready to purchase your home quite yet? If you plan to purchase a home 6+ months down the road, it is still good to meet with a Realtor. An experienced and licensed Realtor will help you understand the ins and outs of a new home purchase and will likely have referrals in the lending business, if you are in need. You will learn more about the current market you will be looking in and get a professional opinion of what may work with your new home needs.

Keep in mind that the market is continuously changing. Housing prices are currently rising and mortgage rates seem to be following the trend. Of course, no one person could truly know what months down the road will hold, what we do know is that now is the time to buy AND sell.

If you have any questions about the selling market in your area or the process of a new home purchase, please leave a comment below or feel free to contact me anytime. My team and I are keeping up to date on the current and changing market trends throughout the Twin Cities Metro and greater Minnesota areas, and we’re here to assist you in all of your real estate needs.