Once upon a time buyers could get loans for pretty much however much they wanted, and could buy pretty much whatever they wanted. Those times have long since passed. Thankfully.
What's important now for folks buying homes in the Montpelier/Barre real estate market is knowing what you can afford. Not just in terms of the total amount of a mortgage, but also in terms of the monthly payment.
Having a pre-approval letter from a lender makes you a very powerful buyer. You know what you can afford. You know what you can look at. You might also find out that if you pay off that car loan (or even just a little more of it), you can qualify for a different amount. Hey, it's be worth a shot!
Also, when you find the right house, you're going to be in a perfect position to make a solid offer.
Sellers want to see that buyers have actually talked with a lender. And while it is possible to make an offer without having a pre-approval letter, savvy sellers will want to see one before they make any sort of counteroffer.
The beauty is that in the Montpelier/Barre market, there are several very good lenders. If you haven't connected with one of them, let us know, and we can make several solid recommendations.
Now get out there and get pre-approved!