By doing this, the buyer will know how much home they can afford based on their income and debts.
Once you’re confident you have enough cash saved to pay for the down payment and closing costs, you’re ready to talk to a mortgage lender. It is often suggested that a homebuyer should begin the process of buying a home by speaking with a lender. By doing this, the buyer will know how much home they can afford based on their income and debts. Many real estate agents prefer customers do this before looking for a home because it helps define the search criteria based on what the buyer can afford. Don’t forget to ask if they are an AHFA participating lender.