Why Hire a Local Lender?

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Today I have the pleasure of being joined by Lauren Pelfrey, our in-house lender from Pulaski Bank. She’s here to answer a few questions about mortgages that we’ve been getting asked lately, and we’re excited to have her.

Why should you use a local lender?
It’s important to use a local lender because this is oftentimes the most important transaction that anyone will have in their lifetime. It’s especially convenient to use a lender that’s in the same place as your agent because you can come meet with Lauren, in-person, each time you visit us.

Why is a pre-qualification letter important?
Before you get approved for a loan, you’ll need a pre-qualification letter. This is where your lender will speak with you, get all of your financial information, and let you know what kind of home you can qualify for. They will pull your credit scores, income, and more to make sure you are looking for homes at a price point that you can comfortably afford.

Why do you need to get a pre-qualification before looking for homes?
When you get a pre-qualification letter before you start looking at homes, you are setting yourself up for success. Lauren has often seen people start looking at homes first, then end up disappointed when they find out that perfect home they found isn’t in their price range. Getting this done up-front will save you a lot of time and stress, and makes the process a whole lot smoother.

How do Lauren’s rates compare to national lenders?
Yet another benefit of using a local lender is that they can oftentimes get you lower rates than the national banks. They keep their overhead costs down, so their rates are often better. They can save you money on closing costs as well.

Thanks to Lauren for joining us today. If you have any questions for us, don’t hesitate to reach out. We would love to hear from you via phone or email. Talk to you soon!

What’s the Secret to a Smooth and Stress-Free Buying Process in Wichita?

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Today, Shana Wurth, our top buyer’s agent, joins us to discuss what she does to help her clients and what the benefits are of working with a buyer specialist.

A buyer’s agent will help you get through the process of buying a home; from start to end, they help you get through the contract negotiations and repair negotiations, work closely with your lender and the title company, and get you in the house at the end of it all!

One thing that often comes up is how the buyer’s agent gets paid. As a buyer, you don’t have to worry about paying an agent’s commission. The commission is paid by the seller’s concessions; out of the proceeds at closing, it comes out of the seller’s portion of whatever they get once they sell their house. Essentially, the services offered by a buyer specialist are completely free to you as a buyer!

When you’re driving through a neighborhood and you see a great home for sale, DON’T call the number on the sign! This may sound counterintuitive, but it will save you from being taken advantage of. The agent whose number is on the sign is working for the seller and their interests, not yours. That agent wants to get the most money possible for their seller client, while a buyer's agent who is representing you will work to get you the best deal possible! It’s all about having someone to represent you and your interests in negotiations!

If you’re thinking about buying a home, the best thing you can do is find a good one who is willing to go to bat for you. Before getting started, they will walk you through the buying timeline so you’re never taken by surprise during the process. Give us a call or shoot us an email if you want to sit down for a free buyer consultation with Shana, or if you need real estate assistance of any kind. We’re always available to help!