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Why Your Real Estate Agent Asks What Type Of Financing You'll Be Using
When we're working with Warren County home buyers one of the earliest questions we're going to ask you is about financing. You might think that's intrusive, a bit nosy to ask how you plan to pay. After all, when you walk into a store they don't ask you at the door how you plan to pay do they? So why is real estate different?
Because in real estate your financing can be a help to getting your home, or a big time hindrance. Fact is depending on the type of financing you need, some homes may not even be POSSIBLE for you to buy, especially when it comes to condos.
While each financing type has its pros and cons for the buyer, they also come with pros and cons for the sellers too.
In general, sellers prefer financing in the following order:
CASH (no worries about the bank or anything else!!) Conventional loan (enough down payment to show you've got skin in the game and solid financial footing) VA/FHA/USDA and other loan down payment loans make the sellers a bit more nervous, especially since the seller may have to clear some "extra" hurdles due to loan appraisal repair requests (been there and done that, flaking ... more
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