Know the difference between a lender and a Realtor when home buying.
Buying a house is a significant step, especially if you are transitioning from renting. As you switch from renting to owning your first house, you’ll encounter challenges, which is why I would like to help you kickstart this process.
You have two ways to get started. One is speaking with a lender, and the second is talking with a Realtor. These are two very different approaches to home buying, and I’ll give you some idea of how these two differ from each other.
Lender
Lenders are the ones who can help you secure financing from a bank to buy your house. Instead of paying your monthly rent, you’ll be investing in your own property. Lenders assess your qualifications and determine what you can afford.
Realtors
On the other hand, a Realtor’s role differs from that of a lender in that they are there to assist you in finding the right house within your budget. They help you with house showings, finding suitable options, negotiating offers, handling paperwork, and guiding you through inspections.
I suggest that you start by contacting a lender to understand your financial situation and capabilities.
Essentially, lenders will tell you that based on the information you provided, you can buy a home for this amount of money. The Realtor's side is opposite; it is where you tell your Realtor “I could buy a house for this amount,” and it’s then the Realtor’s job to find you the right house that matches what you’re looking for.
I suggest that you start by contacting a lender to understand your financial situation and capabilities. This will also give you better insight into what houses you should be looking at and can afford. After this is done, you can consider talking with a Realtor.
If you need any assistance finding a lender, don’t hesitate to call, text, or email our team. We work with a group of local lenders who are excellent to work with.