It is no secret that the economy has been challenging in the last year. One of the industries hardest hit has been the real estate market. That makes buying a new house much more complicated than ever before. It used to be so easy. Just call an agent, look at everything you liked in the neighborhoods where you wanted to live and call your banker or broker and get a loan. Now, as I have learned, you need to prepare even before you start looking. Thank goodness I met Tim McBratney. When he found out my husband and I were house hunting he asked if we had been “pre-approved” for financing. Huh? Yes, your real estate agent or even the buyer may ask you if you have been “pre-approved” before they will show you property and certainly before they will write or sign an offer. As Tim informed us, not everyone has the credit they think they do and the rules have changed in what now qualifies a buyer for financing. The good news is I did find Tim and he knows all there is about pre-approval (and so much more). It can make this complicated process simple. He will be your advocate. He will hold your hand from application to loan closing. [BTW...this guy has quite a pedigree! He has been in the business for many years in a variety of markets but is a specialist in Portland. I was impressed.]
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