Deal with no funds

[Miyoshi A Peak]

So I've been reading "find the deal and the financing will come" this isn't clear to me. So if I find a deal, I can't submit a offer until I have POF or pre approval, by the time I find either of those the property is under contract. How can I find the funding first so I can move more quickly once I find a deal?

[Jon Puente]

Hey Miyoshi,

You need someone who is going to lend you money, like a bank, mortgage broker, credit union, or someone who lends money to buy a house.  Talk to a couple of lenders and submit an application with them and see what they can pre-approve you for.  Once you have that info, you will be prepared to make offers on homes within that budget!

By the way, this is VERY easy to do, like you can get pre-approved in 1 day.

The financing wont just show up at your front door because why would it?  Finding a deal is important, but you can find deals all day long, and have no financing/money ready to go for them.