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Lenders

Lenders can detect any potential problems that might make obtaining a loan difficult.

• If there is something in your credit which could keep you from qualifying for the home you’ve chosen, it should have been identified and dealt with during the pre-approval process.
• By the time you get to closing there is less likely to be any surprises, which would hamper your ability to purchase.
• Keep in mind, a lender will most likely pre-approve you at the top of your ability to buy, which means that homes that you consider must be in that range or lower. If you try to go significantly over your approval rate by more than five or ten percent, you will risk losing the home, and possibly the opportunity to buy a home that would have been more suitable. 

Having an agent on your side as your advocate removes the mistrust and helps keep things on an even keel. If a challenge develops, you know where your agent stands.  

FORCED SAVINGS.

• Some people are just lousy at saving money, and a house is an automatic savings account.
• You accumulate savings in two ways.
• Every month, a portion of your payment goes toward the principal.
• Admittedly, in the early years of the mortgage, this is not much. Over time, however, it accelerates.
• Second, your home appreciates. Average appreciation on a home is approximately five percent, though it will vary from year to year, and in some years may even depreciate.
• Over time, history has shown that owning a home is one of the very best financial investments.