Qualifying For A Louisiana Real Estate Mortgage

When qualifying for a Louisiana real estate mortgage, it's a good idea to obtain a mortgage pre-approval before you contact an agent or go on your first house-hunting expedition. By taking this important first step, you can avoid disappointment if you aren't able to secure financing for the home that you really want to purchase.

The Strategy for Qualifying for a Real Estate Mortgage in Louisiana

At Savoie Realty, our real estate experts agree that you should follow these steps when you decide you want to purchase a new home in Louisiana:

  • Obtain a mortgage pre-approval. This can usually be done in just a few minutes, or even over the phone.
  • Contact a knowledgeable and experienced real estate agent familiar with the Louisiana market. Show the agent your mortgage pre-approval so that your search criteria can be narrowed to homes you know you can afford.
  • Use the Multiple Listing Service (MLS) to get detailed information on all the homes that are for sale in the area. Your agent will produce a list to meet both your search criteria and your budget.

Remember, your mortgage pre-approval is a guarantee for that specific loan amount. Once you obtain a pre-approval, your offer on a certain property for sale may be placed above competing buyers since there's less of a chance of a glitch on your part. Savoie Realty is a Louisiana real estate agency that can help you obtain a mortgage pre-approval with a preferred lender as well.

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