How a Local Realtor Can Help You Get a Loan

Are you preparing to buy your first home? You definitely want to work with local realtors who understand your needs! After all, according to the National Association of Realtors, about 86% of recent home buyers found their agent to be a very useful source of information. In particular, a licensed agent can help you get a loan and improve your chances of approval. Here are a few ways that your realtor is involved in the process:

Gauge Your Financial Health

Your real estate agent will sit down with you before you buy a home and give you an honest assessment of your financial health. They’ll do this by talking with a lender, credit report companies, and you. After gathering information about your debts and your earning potential, they’ll help you understand what kind of home you can buy and what loan makes sense for you.

Make Applying Easier

Your real estate agent understands how scary it can be to apply for loans. That's why they'll sit down with you, talk about what kind of financial impact your loan might have on you, and complete many of the hard steps for you. Having professional help can reduce some of the stress that comes with applying, hopefully minimizing any anxiety that you might feel about it.

Provide Information About Your Loan

Once you start applying for different loans, your real estate agent will work directly with you to provide more information about what to expect. For instance, you both can work through your repayment terms to ensure you feel comfortable with them. Then, they can provide other details that make your lending experience better, such as your interest rate and much more.

Mediate Between the Lender and You

A skilled local realtor is not just someone who helps you find loans. They can also work directly with the lender and work as a mediator between you and them. The goal of this mediation is to improve the processing time and ensure everyone is as satisfied as possible. There will be give and take, but that’s all part of the process of buying a home!

By working with your local realtor in this way, you can improve your chances of finding a loan and getting the high-quality support that you need to buy a home. Just as importantly, they can help you identify a home that may fit into your real estate needs. Please reach out to our experienced team at E-Realty Services, if you want to work with a team of realtors that understand you and are willing to work for dream home.