It’s always best to contact a lender in the beginning of your home search so you can deal with reality instead of fantasy. Your lender can present viable options based on circumstances tailored to you and your family.
Most buyers go out and look for a home with a certain sales price in mind. Unfortunately, this is basically putting the cart before the horse. What they don’t realize is that by the time they talk with a lender, they may be disappointed to find out what they can actually afford. Then the shock of what they thought they could afford as opposed to reality is a big letdown. The features of a 600k priced home which they thought was in their price range will be hard to find in a 500k home.
Working with a lender early in the game, a buyer may be excited to find out that they can afford a healthy amount over what they initially thought. If known ahead of time, both buyers will have saved themselves time and energy.
