This chicken-or-egg question is among the most common for first-time homebuyers. There’s no right or wrong answer. You can start the home purchase process by contacting either a lender or a real estate agent.
But one of the first things a real estate agent will ask you is: Have you been preapproved for a mortgage?
Loan prequalification and preapproval are incredibly important steps that give homebuyers a clear sense of their purchasing power and what they can realistically afford. Loan preapproval shows real estate agents and home sellers that you’re a serious buyer who can make a strong offer.
In fact, some real estate agents and home sellers won’t accept a purchase offer without a copy of your preapproval letter.
Here are three big reasons why it often makes more sense to start the homebuying journey with a mortgage lender:
Again, it’s absolutely fine to start this journey with an agent. Regardless of where you begin, you’re going to be working toward the same goal: Getting preapproved for a home loan.
Real estate agents will also likely look to connect you with lenders and loan officers they’ve worked with in the past. Just be sure you’re talking with lenders and loan officers who truly understand VA home loans – that helps ensure you can fully evaluate all of your mortgage options before choosing a loan product that makes the most sense for you.