It is extremely important to speak to a bank before you physically look at any homes. One reason is pretty much common sense. You could be wasting your time, the buyer agent, the seller and listing broker’s time. It is also important to know what you can afford. You might be looking at homes out of your price range or might be able to afford a bigger home to more suit your needs. Probably the most important reason is because in this real estate market it is a must to have a lender letter. There aren’t many sellers that will accept an offer without having a lender letter. In this market if you don’t have a lender on standby to write you a lender letter that day, you just might lose the house to another buyer’s offer.