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Need a lil help w the home buying process....WDYD????
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QuackQuack
LIF Adolescent
Member since 12/06 572 total posts
Name:
Chrissy
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Need a lil help w the home buying process....WDYD????
We are currently trying to get this house.
We put a bid in, they countered, and now we are countering back.
My question is, at what point in the process do I actually shop for a mortgage???
We got pre-qualified, and have sent the letter over with our initial offer. Everyone keeps telling me to search for a mortgage, and get 3 or 4 quotes before actually deciding on one. When exactly do I do that???
We will be signing our next bid either tonight or tomorrow, so I am just curious should I be doing this all tonight and tomorrow am for different mortgage quotes, or do I do that after they accept our offer???
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Posted 7/28/09 2:16 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Salason
♥
Member since 6/05 9878 total posts
Name:
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Re: Need a lil help w the home buying process....WDYD????
I'd do it right after they accept while you're negotiating the contract.
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| Posted 7/28/09 3:32 PM |
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pnbplus1
Family
Member since 5/09 5751 total posts
Name:
Mommy
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Re: Need a lil help w the home buying process....WDYD????
we already knew what bank we were using (knew that they were giving us a great rate) but the bank told us to wait until the contract was signed by both parties before putting through the actual mortgage application.
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| Posted 7/28/09 5:15 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Need a lil help w the home buying process....WDYD????
Posted by Salason
I'd do it right after they accept while you're negotiating the contract.
I would actually wait until the contract is fully executed and signed on both sides.
The reason for this is, while you can "shop" for a mortgage without a contract, you really can't do anything without a fully executed contract (like lock in a rate).
While Bank A may be advertising a better interest rate today over Bank B... Bank B may have the better rate by the time you are ready to lock in.
I would just get your numbers ready and the minute you get that executed contract, start calling people.
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| Posted 7/28/09 6:12 PM |
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