Many lenders help prospective buyers get pre-approved for a mortgage loan before the buyers begin a serious house-hunting effort. If you are in this position, give the loan officer all of the information about your assets, income, and debts so they can tell you how much you will be able to borrow under the available loan options. The loan officer will do a credit check and work with the lender to straighten out any problems with your credit rating.

Pre-approval from a lender can make you more attractive to the seller when you find the home you want. Multiple offers sometimes come in on a house, and you may find yourself competing with other buyers. In that case, it is helpful if you have included a letter from the lender with your offer stating that you have an approved loan and are, indeed, qualified to buy. This will also save you time by eliminating from consideration any homes that you would not be able to afford.

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Bonnie Fagoh
C21 Beggins
6542 US Hwy 41 N
Apollo Beach, FL 33572
813-658-1344
Fax: 813-645-8892
BonnieFagoh@NUMBER1EXPERT.com

Bonnie Fagoh Awarded Centurion ** Bonnie Fagoh of Tampa Coastal Homes at Century 21 Beggins in Apollo Beach Florida has been awarded Centurion level recognition for 2009*** In a year that experts have noted as a difficult one, Bonnie has quietly gone on with what she loves and that is helping families find fantastic opportunity in this coastal community and it shows! She had her best year yet in 2009. "What I have found in 2009 is that many people are very frustrated with the "foreclosure bargains" that they have considered, only to find after many aggravating months and much frustration with the lenders that it is just not worth the wait. They miss out on some great buys waiting on short sale approval, or are outbid on a bank owned property. Of course, these distressed properties are "as is", in need of repair and neglected so they may not be the "best deal". I have helped families buy brand new homes with full warranties and close in 30 to 45 days. (Many short sales take 4 to 6 months or more and can "fall apart" right at closing). Some big national builders need to keep the scaled down workforce busy even if that means selling at a loss (under replacement cost). Several builders have bought lots at a drastically discounted price from other builders, so now thay can offer a buyer a new home at a very attractive price." "The hassle of liens and second mortgages etc... does not exist with these brand new bargains." Of course all the normal due diligence has to be performed. For example, what is the history of the neighborhood? Many of these factors cannot be determined from photos or a written description... No, in today's market as competitive as it is it pays to go with a pro that is very knowledgeable about the local area. You need to know that a realtor is serious about the profession. " I have lived in my area over 20 years and in Tampa Bay for over 44 years so the trends to me are clear, says Bonnie. Ask how was your 2009?"

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