Some of you may wonder when exactly is the appropriate time to get a loan officer involved in the home buying process. Our answer: ASAP.
Working with a loan officer early on will also help you to get pre-approved. This is incredibly beneficial as your offer on a home will stand out since you have your finances in order. If there are other offers, they will likely feel inclined to go with those buyers who have pre-approval from their lender.
To continue with good news, your loan officer may be able to show you how you’re closer to buying a home than you think. It’s likely that you are not aware of all of the financing options out there, so they will introduce you to numerous possibilities. One of these possibilities is that they can find you a financing option that doesn’t require perfect credit. There are a lot of programs out there that accommodate individuals who have struggled to improve their credit.
Following this, a loan officer is able to assist you in developing a plan to gradually improve your credit. Having a step-by-step plan will make it much easier to achieve your goal of a higher credit score. Additionally, your loan officer will be able to tell you how much you need for your down payment and how to save for it if you need assistance.
Likely the best perk of having a loan officer involved throughout this process is that there will be no surprises; you’ll know what to expect, what documentation to provide and how you should prepare for ownership. Reach out to a loan officer today if you would like to get the process started!