Unless you have been hiding in a cave, you know that the Denver Real Estate market is on it’s head. The Denver Real Estate market 2015 is anticipated to be at a feverish pace. Now that may be an understatement. Denver has become the 9th most expensive city to live in! So what does that mean to you? It may be what  brought you here, being Denver is 6th in in-flow population. Well if you are buying a house this year start the loan pre-approval process early.  What I mean by that is getting fully pre-approved. Yes, gathering and submitting those financials from tax returns to bank statements. Even if you know you have great credit, and plenty of down payment saved. Even more so if you are unsure what options are available with lower down payments, or need a little polishing to your credit. Now it is definitely smart to talk to more than one lender. Meet with them, learn about their business philosophy, and programs and options the present to you.

However, what is not smart is just googling the lowest rate lender. Why? Do you seek out the cheapest meal? How did that work for you last time? Do you hire the cheapest contractor? How did that job look when it was finished? How about that cheap car mechanic? Yeah, not likely, let me know how that works for you.

Here are 5 Reasons The Right Lender Will Help Win Your Contract In The Denver Real Estate Market 2015.

1. They will prepare you for what’s ahead– Meaning they will tell you what to expect through the process. They will talk to you about the Denver Real Estate market in 2015! If it takes awhile to get under contract, they will be there and check in regularly to see how you are enduring.
2. They will educate you on loan program options available to you–  Whether you are a move up buyer and putting 20% down, or a first time home buyer who needs down payment assistance. The right mortgage lender will help you structure and create a winning strategy for your mortgage needs.
3. They will go over figures in detail and will be transparent– Buying a home is likely the largest financial commitment you will make. Do you want someone glazing past the financial costs of buying a home? The right mortgage lender will show you the closing costs involved to help you understand where your money goes through the process. They will show you options. Because even in structuring a mortgage there are numerous ways to strategize. Not always is the lowest rate option the cheapest or right decision.
4. They will be available to deliver pre-approval letters as needed- All pre-approval letters are not created equal. Your lender’s track record may positively or negatively affect the acceptance of your real estate contract. If your lender has street cred, listing agents will know their name  as a trusted resource. They may have even done a deal with your lender before. You better hope the lender did a good job and closed on time. If they didn’t that could affect the seller’s desire to accept your offer. The right lender will chip in and call the listing agent or email them on top of sending a pre-approval letter. This boost of confidence to the selling side can help push your offer over the top!
5. Once under contract the process will be smooth on the lending side- The right mortgage lender will have collected 90% of what an underwriter will need for final approval, upfront! You will have a bullet-proof pre-approval letter. Meaning, you can focus on the home inspection, and preparing for your move. The lender will be tidying things up with the underwriter, but you shouldn’t feel like it is uncertain you will get your final approval. If your lender asked the right pre-approval questions, and gathered the right documents from you the underwriters will not be a burden on your life. The underwriter is the only person with direct delegation to give you the final approval, but your loan officer should put you in the power position.

In Denver’s current real estate purchase market, working with the right lender is critical. Not only will they make your life easier, but could have a hand in getting your offer accepted over others. These principals have guided me for over 14 years, and is why I have a 99.9% success ratio once I issue a pre-approval letter. If you are interested in partnering with my team fill out an application now to get prepared early, here is the link to the secure online application.

Ray Williams

@MtgMaestro