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Posted by
Christine Bonner

Which step should come first, finding an agent or finding a lender?

I'm very interested in buying a home this year but I'm extremely anxious about the process. While this is not my first time buying a home I was very young and naive the first time around and didn't really understand any of it. So is it best to have a realtor first to walk me through each step, or should I get my financing approved first?

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Which step should come first, finding an agent or finding a lender?

By Christine Bonner   
Posted on Mar 10, 2021 in Topic: Home Buying
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I'm very interested in buying a home this year but I'm extremely anxious about the process. While this is not my first time buying a home I was very young and naive the first time around and didn't really understand any of it. So is it best to have a realtor first to walk me through each step, or should I get my financing approved first?
Status: Open
Viewed: 760
Asked by: Consumer
Posted: 1 year ago
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Silver
Priya Kurup
about 1 year ago
You can do both, often times an agent will recommend a lender, and vice versa. Please let me know if you have anymore questions: 832-807-7492. Would love to help you!


about 1 year ago
Platinum
Yvonne Chauvin
about 1 year ago
Hi Christine,

I usually sit down with my buyer clients first and go over the buying process, so they know what to expect. I'm there to answer questions during the process as well and hold their hand. I can also recommend good lender.
If you would like to receive my "Free Guide to Buying a Home", please email me your request to: yvonnechauvin@yvonnechauvin.com.

Thank you,
Yvonne Chauvin- REALTOR®
MCNE, CNE
Better Homes & Gardens Real Estate Gary Greene
YvonneChauvin@yvonnechauvin.com
Cell: 281-686-0143


about 1 year ago
Platinum
James Meador
about 1 year ago
Hi Christine!

This is a great question. You can do either first, but for me, there is a "best" way.

I think it's better to find an agent first so they can refer you to a lender (or lenders, preferably) that they have worked with. All agents have many lenders that they use, and some lenders are better than others for certain situations. You can choose any lender, but they may or may not be the best lender for your situation. I've seen consumers apply with one lender, get denied, and give up trying to buy a house because they think they can't get approved. Terrible! If you have an agent first, they will be able to refer lenders that will work best with your particular situation. We recommend at least 3 lenders to give the clients something to choose from.

We have had clients come to us that are already pre-approved, and that is fine, also. But some people may have difficulty getting approved for one reason or another...they need a certain kind of loan, they are a first-time home buyer, they have an ITIN number instead of SSN, they have multiple properties, or they have a low credit score, etc. Most of these situations require a lender that offers these products or works with these kinds of situations.

I also like to use my lenders because I know they will respond to a call or text at any hour. Some lenders only respond during business hours, and a LOT can happen between 5:00pm-7:00am the following day. I like to be able to send a quick text if needed to get a quick response for my clients.

Hope this helps!


about 1 year ago
Silver
Pauline Clement
about 1 year ago
Agents generally are certainly okay with a new client coming to them first to find out how the process should work. A good agent will let you know the complete process so that you know you are in good hands. While you are most definitely able to choose whichever lender, which inspector, and which title company that you want to work with, the agent can help facilitate and coordinate the remainder of the real estate process for you. Even if you locate a lender and then come to the agent, that will work as well.


about 1 year ago
Bronze
Kelli Owens
about 1 year ago
The other agents have answered this question already but I just wanted to add that I would suggest finding an agent first. If you already know, like and trust a lender, go ahead and knock it out and get your approval.

An experienced Realtor already has relationships with several different professionals, who are all focused on you and your needs. We strive to keep the stress level low and the home buying journey a fun and exciting experience. Our initial conversation is to find out what you need and how to best serve those needs. We will ask you pointed questions to determine which list of recommended lenders to provide you, not all lenders offer the same programs and level of care to their clients.

I hope this helps, contact me if you have any other questions, I am happy to assist you on your journey.

Kelli Owens
Realm Professionals
281-650-7592
Kelli.Owens@theKOrealtygroup.com

I hope this informaiton helps


Source:


https://youtube.com/playlist?list=PLzeg7URJ1gWJNqJ1mhWsv6cJmiRr5hpNA


about 1 year ago
Bronze
Catherine Fry
about 1 year ago
Hello Christine,
You may look for both simultaneously. And this is why, your Realtor often may refer you to a lending officer. The Realtor also can provide you with information about current market conditions. However, I would strongly advise that BEFORE you start actively searching for a new home, sit down with your lending specialist and discuss your financial options. At a minimum, get pre-qualified. This will give you a pretty good idea whether you are in a position to purchase a house and how much $ you may get the approval for. Sometimes a small detail in your financial history may ruin months of house hunt. So work closely with your financing specialist. Your Realtor will help you find the house you need based on your requirements AND your individualized financial assumptions.
Hope this helps.


about 1 year ago
Bronze
Jenna Horton
about 1 year ago
Make sure you have a realtor that is going to be willing to hold your hand through the process. Many of us will do this for you. I hope this helps. :)


about 1 year ago
Bronze
Gabriela DeLaTorre
about 11 months ago
Your realtor would be a priority since he or she would give you recommendations to a reliable lender. It is important that the two have worked together in previous transactions so that they know what to expect from each other and the sale goes smoother. You can also compare lender proposals once you have a house as your target and are preparing an offer but you can't be switching realtors once you are under contract.


about 11 months ago
Bronze
Ximena Allub
about 10 months ago
I would say the lender and make sure you are pre-approved to buy a home before you start seeing homes with an agent. A real estate agent can always help you by referí g you to at least 3 lenders so that you can shop around for better loans.


about 10 months ago
Silver
Purvi Shah
about 7 months ago
If planning to purchase resale home, it's best to get preapproval letter from lender while you are looking for a realtor. Experienced realtor will explain you entire buying process step by step.


about 7 months ago
Bronze
You can do either one. It's personal preference.


about 7 months ago
Bronze
Alpana Romana
about 5 months ago
Yes. You can ask Realtor and they refer you, Licensed Mortgage Originator, Who they work with them before and know them they are very Professional. Because all home buyers need loan for home, realtor always ask are you Pre qualified? If you are first time home buyers, you need to know the home buying process and get Pre approved for loan, Or any questions about loan Products available, and approved and increase your credit score, Please reach out to me, love to help you.


about 5 months ago
Bronze
Lisa Williams
about 3 months ago
Every situation is different. I would recommend finding an agent first. Agents build relationships with lenders, and they know what lender would best serve your situation. Not all lenders are created equally, and you may have to end up switching lenders if an issue comes up that your lender is not equipped to resolve. This has happened to me before. While one lender advised my client he couldn't close until a few months out, another lender was able to get my client approved right away.


about 3 months ago
Bronze
JO Po
about 3 months ago
Christine, yes home buying can be stressful. Here is the big Tip NO Realtor has said. Find a Lender who will do a "FULL-SUBMIT" of your file. Meaning run your application 100% through underwriting WITHOUT a Contract. Many Lenders / Loan Officers will tell your " I need a Signed Contract first" before you run through underwriting. This is not true. I have 2 LOs who does this. This will give your an edge with your offer with 15 day 3rd party addendum or 0 days. Sellers want to make sure you will close 100% on time with no issues. Plus hire an Realtor who is about service and not chasing the sale and who thinks outside the box and a great negotiator. Hope this helps you.


about 3 months ago
Bronze
Clinton Turner
about 3 months ago
You can do both. If you don't know where to begin the journey, a realtor can provide you different options so you can start.


about 3 months ago
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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