Written by Robert H. Ruth
This is a question I deal with on a regular basis working with homebuyers, so I thought you might benefit from an explanation of the key difference between these 2 products.
When I first speak with a new client who is looking to purchase a home, they frequently have been referred to me by a Realtor or a builder. The Realtor doesn’t want to spend time with people who are not able to purchase, or who do not know their price range for a purchase. So my job is to help the buyers understand the home buying process, and then determine the correct price range they should be shopping in and how much mortgage they can afford given their current income and monthly debt load.
- I do this by asking them careful questions that