Are you taking the correct steps right from the start?

When looking to buy Miami Beach homes for sale, getting a pre qualification letter has become more than just a good idea – it has become a necessity.  If we have learned anything from recent history, it is that good mortgage advice is, indeed, not around every corner. The point – make the most of each step from the beginning.

Make sure the lender is endorsed by someone in the know… not necessarily someone you just, well… know.  Okay, that is a somewhat of a charged statement, so indulge me a moment to elaborate.  Obviously if you have someone you have used in the past and had momentous success with – by all means… they have earned your business and you should reward that kind of above-and-beyond service.  This Tip is really to warn those that are tempted to use the infamous “sister’s best friend’s cousin half-brother”.  The new world of real estate finance has chewed and spit out 70% of the people in it and now is no time to go soft on this part of the decision to buy.

Here are the top three places to find a rock star mortgage broker.

•    Your Realtor’s preferred loan officer. Typically, the best place to start is with the Miami real estate agent you have chosen.  Since you are employing your Realtor to represent your interests, choosing to stray from players they have experience with forfeits some of the leverage that they bring to the table, potentially thwarting your own efforts.  There is something to be said for synergy.
•    Someone you have personal experience with. Even this one needs to be questioned a bit if it has been quite some time since you have used them.  Mortgage brokers are no different than other people [insert favorite mortgage broker joke here] in that they typically resist change as much as anyone.  With that in mind, if your previous resource has drug their feet or worse – refused to adapt to the new world of real estate – this is a recipe for future frustration for you.  If they are still at the top of their game – stick with them for sure, you have a real solid mortgage adviser.

•    Someone you trust that has a top-notch professional network. The first one that comes to mind [though there are others] would be a financial planner that you entrust with your money.  They likely have a network of super-sharp service providers that are mavens in their field. You still need to do your homework but this can be a distant third for finding the right person to finance your Miami FL house for sale.

The Bottom Line

When you have decided to buy a house please be sure not to over look the most basic of steps.  Please!  I cannot stress that enough.  Why?  Well let me ask you… how many people that are now Miami foreclosure statistics made their mortgage broker choice based on faulty or superficial grounds?  I’m just sayin…

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