Buying or Selling a Home/Mortgage Lender question?

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Question
Good morning, Ms. Kostelic! You might remember I asked you some questions a few days ago about mortgage lending and home buying. I have another question, if you don't mind.

Should I get preapproved for a mortgage from multiple lenders? Do you think that is a smart choice? I don't want them thinking I am not serious but I want to compare options as well.

Answer
Hey Susan,

Yes, you should definitely get a pre-approval from 2-3 lenders!  If you collect them all within a "reasonable amount of time" (say 30 days or so) credit rating companies say they will count as one 'hit' to your credit.  So don't be afraid that if you go to more than one bank and they pull your credit this will hurt your credit score.  

You want to get an estimate of their fees up front so you can compare the offers; don't focus solely on the rate as other costs such as origination fees, etc can really make a big impact.

Hope this helps; happy hunting!

Kerrin

Buying or Selling a Home

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Kerrin Kostelic, FL Broker Associate, GRI, AHWD

Expertise

Let me know if you need help with any of following type questions: How to choose a great agent? Why do I need to hire a Realtor? What does "agency representation" mean in Florida? How does a Realtor get paid? What do I need to do to get my house ready for sale? How important is pricing in getting my home sold? What if I'm under water in my current mortgage? How do I go about getting a loan? Please keep in mind that I cannot give legal nor financial advice as I am not licensed for either of these activities. In addition, real estate law changes from state to state; I am licensed in Florida only so that is specifically my area of expertise. If it is a more general real estate question, feel free to ask away!

Experience

I have been a full time real estate licensee in the State of Florida since 2000 and received my brokers license in 2005. I have helped 200+ clients and customers buy and/or sell a home, condo, or vacant property since that time. I continue to educate myself in my field taking numerous courses on financing, negotiating, contracts, Fair housing, construction, all in order to become a better professional.

Organizations
National Association of Realtors Florida Realtors Pensacola Assn of Realtors Leadership Pensacola class of 2008 Gulf Coast Search and Recovery, K-9 Inc -- volunteer, handler in training, & Secretary/Treasurer

Education/Credentials
BA in Social Sciences/Language Arts with Elem. Education certification--Univ of Michigan, 1993 Real Estate licensee in FL -- Oct 2000 to present Graduate, Realtor Institute, Nat'l Assn of Realtors -- 2004 Broker Associate, FL -- 2005 At Home with Diversity designation, Nat'l Assn of Realtors -- 2009

Awards and Honors
International Diamond and Sterling Societies, Coldwell Banker for high production and volume levels. CB United, 100% Customer Satisfaction rating Military Relocation 100% Satisfaction rating "Award of Excellence" from Realtor.com for Outstanding Internet Marketing

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