[EXPERT] How to Buy a House

So, we have broken it down into eight lovely steps, and step one is talk to a mortgage lender.

Jess, why don't you kick us off with your thoughts?

Yeah.

I'm, I'm happy to, and I love that you included this as step one.

Um, not to, like, take out the agent part of this, but it's so funny 'cause so many folks reach out to an agent first, which is, like, the fun part of the process really.

[laughs] Not the financing, but, like, the financing is so necessary.

Like, it sets the stage, unless if you're buying cash.

It really sets the stage for, like, your trajectory and, like, what you're gonna purchase, right? And so that first step, you know, we have an initial call.

We chat about your goals, short-term, long-term, your vision, what to expect.

And then I think importantly, too, like, your budget.

And a lot of times when people are setting up their search, they're looking at home prices.

But there are situations where you could be looking at the same home price and it's a completely different monthly payment or out of, you know, out-of-pocket cash what to expect.

So I think that's where it's like if you are getting in the game and you're, like, thinking about buying a house, it's just so beneficial to talk to somebody who is aligned with, like, what you want to do is really important, too.

Whether it's, you know, if you're buying a primary home, like, most people can-- most agents can help you.

But if it's something where you're looking for a second home or investment property, it's a totally different ballgame, and I don't wanna steal any thunder from later on 'cause we'll talk about that a little bit.

But I think, you know, just, like, talking to a lender, we're gonna talk about, you know, income, debts, credit, and then, um, assets for a down payment and closing costs and prepaid as well.

And I'm just gonna say it's a huge myth that when you talk to a lender you have to have credit pulled.

You do not.

You absolutely 100% do not.

So just wanna debunk that right now.

Can, and can I add something to that, too? As someone who is an agent, my-- So Jess is my, like, go-to lender in Colorado, and I love her because she just knows her stuff and her team's really great, but also because she explains things really well.

And I think sometimes the lending process can be really intimidating for people.

But what's interesting is I've had people that, like, come to me and they think they know what their budget is based off of some, like, idea in their head.

But when I send them to Jess and I'm like, "Before we start shopping, it's actually irresponsible for me as an agent to start shopping with you because we don't know what your budget is.

And also it's just a waste of everybody's time when we don't have you pre-qualified, and it doesn't make you a very strong candidate if we're putting in an offer and you're not pre-qualified." And sometimes people are actually pleasantly surprised that they end up qualifying for more than they thought that they would, or in some cases they qualify for less, and we just have to have that data point.