The story is familiar: hard-working real estate agent takes pre-qualified buyers to dream home. Excitement builds and contracts are signed. As the mortgage process begins, the clouds roll in.
Making the leap from renter to homeowner is a transition worthy of all the angst that first-time buyers experience. Is this the right place? Can I get approved for a mortgage? Will I regret this decision? Am I getting a good deal? Can I afford this?
Sure, a knowledgeable real estate agent knows traffic patterns, school districts and how to create curb appeal, but the most critical insight an agent should possess is mortgage knowledge.