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Do this one thing before you go spring home shopping.

Monday, March 8, 2021   /   by Vanessa Saunders

Do this one thing before you go spring home shopping.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.

If you plan on shopping for a home in the Hudson Valley this spring, either as a first time buyer or a homeowner moving to bigger or better digs, you should start shopping for a mortgage now.

Getting pre-approved for a mortgage before you shop is essential given the hot Hudson Valley real estate market. Without a pre-approval letter in hand, you'll never have a winning offer (unless you’re paying cash). One of the best ways to get pre-approved is to work with a mortgage broker. Mortgage brokers are a great resource for buyers. The broker is able to do the bulk of researching the best mortgage for a buyer, and guide them throughout the entire financing process. Getting the right mortgage - one with a favorable rate, reasonable term and affordable monthly payment - is one of the most important factors in buying a home.

What a mortgage broker does.
Think of a mortgage broker as a guide, using his knowledge of the many home financing options available to find the one that is best for a buyer's situation. A mortgage broker will also explain rates, the different types of mortgages and how long is best to borrow for given the buyer's age, needs and financial situation.

The process is simple once you've selected a broker. They will start by gathering the relevant information for your mortgage application, which is similar to the paperwork a bank would collect regarding your credit history, income, financial resources and other factors important to your ability to finance a home. They will then use this information to tailor the best mortgage for your situation.

After this has been completed, the broker will submit the information to a lender and will work with the lender and the buyer to ensure everything runs smoothly.

The benefits of using a mortgage broker.
One of the biggest perks of working with a mortgage broker is the time you save. While you can easily shop mortgage lender rates online yourself, it will still take a bit of research (not to mention repeatedly sharing all of your financial details) to see which mortgage lenders will give you the best rates. In this sense, mortgage brokers can be a valuable time-saving advisor.

Mortgage brokers can also be a huge asset when it comes to explaining financial terminology, tapping into their network of lenders to find competitive mortgage products, and even getting you a fast pre-approval letter in order to make a competitive offer on a home.

First time home buyers without any experience in mortgage shopping could certainly benefit from a mortgage broker's services. Likewise, busy buyers who are juggling too many things at once - planning to move, selling their own home or working under pandemic conditions - can benefit from a broker to help secure financing.

Getting Pre-approved

If you have some home-shopping to do in the Hudson Valley of New York over the next few months, contact Barry Goldenberg of Luxury Mortgage to get pre-approved for your mortgage financing. Reach out to him on his direct line at (516) 393-4470, or text his mobile line at (516) 398-9511.

This article was originally published by Global Property Systems 

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258


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The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

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The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.
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