You want to buy a house.

You have some money towards a down payment.

You need to get a mortgage, but assume that's what you do after you've made an offer on a property.


Look at the process of home-buying from the point of view of the property owner. Two offers come in. Yours indicates a  small deposit that accompanies the offer, which is already quite below the asking price. You're looking for a 90% mortgage, but haven't spoken to a mortgage lender yet. You, and the seller, have no idea if your mortgage will fly. The second offer is for the same price, but is accompanied by a substantial deposit, and a mortgage pre-approval for a 90% mortgage. Who's going to get the house?  

Buying a home means getting all your ducks in line. 

Align with a real estate agent. 

Speak with a mortgage lender and get IN WRITING a mortgage pre-approval, meaning you're approved for a purchase up to a specific price, granted all your details remain intact throughout the loan process. And don't get upset when your real estate agent asks for that pre-approval to add to your folder BEFORE you're even shown the first house. Agents are professionals. We're not in the business of running a taxi service for people who want to just look at homes. We want to know you're serious, just as we're serious about your home-buying needs. So be prepared to share your mortgage pre-approval with your real estate agent. Then get out there and work together to find the home of your dreams.

Victor DeFrisco Headshot
Phone: 561-951-3759
Dated: March 2nd 2016
Views: 173
About Victor: ...

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