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When Buying a Los Angeles Home Good Credit is Not Enough
If you are considering buying a home in Los Angeles please don’t think we agents are being difficult when we tell you there is no point in starting the process until you have spoken to a lender.
This is not personal.  YOU CANNOT MAKE AN OFFER ON ANY HOUSE WITHOUT A LETTER FROM YOUR LENDER.  Or if you are paying cash, without showing that you have the funds in place.
You may have the best credit out there, which is good.  You may have way more money in the bank than you need.  Great. Someone may be helping you with the purchase wonderful.  But your offer is not going to be considered unless the seller and his or her agent sees that lender letter.
Why? you ask.
Getting a loan when buying a home in Los Angeles is not a slam dunk. You will be surprised to learn what can surface during the approval process.  Maybe your credit took a hit for a reason unknown to you.  A collection you didn’t know about.  Or you might recently have made a purchase which knocked your score down a little.  You may not be able to get your hands on needed paperwork in a ... more

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