Q: Do I need to get pre-approved for a loan before I start shopping for homes?
A: Pre-approval is not required for home shopping, however pre-approval will help manage your expectations with what you can afford. Home buying should be an exciting time of your life! Shopping for things you might not be able to afford…. well, that can be pretty disappointing. Being realistic from the start means you get the opportunity to enjoy the experience of home shopping a little more. A good Realtor will always want you to get pre-approved so they can also help you find a house you can afford to buy. They can refer you to a lender who works in the area and who has a good reputation. In an environment like Northeast Los Angeles, where there’s such a large range in types of housing as well as price ranges, it makes a difference to go with a realtor who knows the area well.