House Hunting Without Being Preapproved For A Home Loan Is Like Going To The Grocery Store Without Your Wallet!

Local Loan Officer Suggests To Buyers Just Go Look....

I met a young couple this week, who had contacted a local loan officer they had been referred to, to get preapproved for a home loan.The Loan Officer tells the caller, I would love to be your loan officer. Once you find the house call me and I will give you a lender letter and good faith estimate. Humm..

So the couple comes to meet me for a day of househunting. When I ask for a copy of the lender lette the wife says " the loan officer said we are pre-approved up to $500,000. We kind of know what the payment will be". When I asked why he wouldn't give them a lender letter. She said" he said that if he gives us a lender letter that is to low or to high it will not do us any good. Because you really need a lender letter that matches the contract."

All she had from the loan officer were notes scratched on sticky notes as he talked on the phone!

When I asked why he wouldn't give them a good faith estimate ,the buyers told me he said "you don't need that now, and then he gave them a round about number. When she pushed him he said he was heading out of town for the weekend and he would get back to her on Monday or Tuesday!

Of course during the househunt we found "THE PERFECT HOUSE!"

They decide to think about it overnight. Sunday mid day the they called to say....we want to write an offer, however the loan officer isn't answering. With no time to waist since it is a Bank Owned home and the offer needs to be submitted first thing Monday morning, I spring into action and say call Markita Aldridge Woods of Westar Mortgage and I know she will be able to get you everything need.

Within an hour they were interviewed, documents were emailed back and forth and we had a lender letter in hand to be able to present the contract.

These were home buyers with awesome credit scores, the cream of the crop type buyer that every loan officer loves to work with.

Folks when you are looking at buying a home, remember it doesn't cost you a penny more to work with a Top Producing Realtor and A Top Producing Loan Officer who are experienced who use today's technology to help make your home buying experience as stress free as possible.

I'm am very sure, the next time this family hears someone say, I need to get preapproved for a home loan, do you know a Loan Officer ? They will be more than happy to say "we sure do!"

Don't forget, if you purchase a home prior to December 1st, 2009, you may be elegible to recieve the $8000 Tax Credit. Read more here

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Have a great day, let me know if you need anything

Peggy James direct # 703-851-3085

or contact me by email

Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's