Monday, March 5, 2018

I Want To Buy a House But Don't Know Where To Start

Pamela Madore
Keller Williams Realty
Pamela Madore Mortgage

 I Want To Buy a House But Don't Know Where To Start

Pamela Madore
Start right here.  I can help you buy your first home, your second home or investment properties!

Unless you are a cash buyer you will need a mortgage.  There is no sense to go and look at properties until you know that you can buy a house.  Although, it is fun to look online and that is OK.  It will give you an idea of what you like and how much the houses cost.

Once you decide you want to buy a house, the first step is to get pre-approved/approved for a mortgage.  You have many different options on how this works.

First, find someone that you trust and that knows a lot about the mortgage industry.  I hope you choose me.   😎  

Here are some myths about mortgages:

  • I can't buy because I have bad credit
  • I can't buy because I don't have any credit
  • I am self-employed and don't show any income
  • I don't yet have a SS number--only an ITIN
  • I don't have a big down payment so I can't buy
  • I can't buy because I had a bankruptcy/foreclosure
Many banks and mortgage companies offer only a limited amount of mortgage programs so if you go to one of them and they say you can't buy, you may stop there.   

Don't stop.  Since those companies only offer a few programs that doesn't mean that there isn't a mortgage out there that will work for you.  You only have to find it.  Ask questions.

How To Get a Mortgage

I am a Mortgage Broker which is much like an insurance broker.  Insurance brokers "shop" until they find someone that will insure you and try to get you the best rate.  I am much the same.  Instead of having a very limited amount of programs, I have many, many.  

Lots of times I have exactly what you need. Another amazing advantage you have in using a Mortgage Broker is that I run your credit once.  If you go from bank to bank, each one will run your credit.  I don't do that.  I use the same credit reprot for each lender that looks at your circumstances.

Where to start?  Always start with how to get a mortgage.  When you go to look at properties and you have a mortgage pre-approval it is like you have a blank check!

Pamela Madore
Keller Williams Realty
Pamela Madore Mortgage
NMLS #289635
3955 S. Soncy
Amarillo, TX 79110

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