How Kevin bought his first home, even after his bank said no to a mortgage

Kevin went to his bank to get pre-approved to buy his first home. I find most first-time buyers are well-informed on the process. Kevin was working with a good, experienced  realtor, who didn't want to get involved in the mortgage pre-approval process. However, after Kevin put an offer on a home, he couldn't get the financing approved.

Buyers hirer Realtors not only to help them find a house, but also for their professional advice.  Although it's not a Realtors job to figure-out the mortgage details for their clients, they should have a list of mortgage professionals that they know and trust whom they can refer their clients to.  This is especially true for first time buyers, who are often well-informed but aren't aware of the subtleties of a pre-approval versus a pre-qualification on mortgage.

Kevin in fact was only pre-qualified. At the last minute, the realtor gave me a call and I was able to get a mortgage for Kevin, but it caused Kevin distress.  As a first-time buyer I would encourage you to take the advice from your realtor on whom they would recommend for mortgage financing.  As a realtor, my advice is to be more pro-active with your clients when it comes to financing.