Yes, the best strategy is to talk to several lenders before you start. Your Sutton and Sutton agent can recommend several mortgage brokers who can pre-qualify you over the phone without obligation. You can get a feel for how comfortable you would be working with them as you check out rates and different mortgage programs they have to offer. We work with mortgage brokers constantly and will recommend brokers who have historically done a good job. Unfortunately, we have experienced the mortgage broker who dropped the ball or didn’t deliver what was promised. We don’t want this to happen any more than you do. So if we recommend someone, you can be assured we expect superior service. Obtaining loan approval upfront enables you to:

• Focus in on an appropriate price range when you begin to look at houses.
• Allows you to make a decision at a relaxed pace both on choosing a lender and the type of loan you will be getting. Then when you write up an offer you don’t have to rush to decide on these important issues. (Most contracts give you 5 days to make application. If you are already pre-approved you are one step ahead.)
• Gives you an advantage over another buyer if you can provide the seller with a pre-approval letter from your lender along with a contract for sale and purchase. It also lets the seller know that you are thorough and serious about the process.