When buying a new home, one of the very first steps you need to take is to apply for financing and get pre-approved. Your mortgage lender will determine if you are likely to be approved based on your income, credit, assets, and other factors. You may also be asked to choose whether you want a 15-year or 30-year mortgage. Many home buyers struggle with this decision, as there are clear pros and cons on both sides. There isn’t a cookie cutter answer to this question, because every home buyer’s situation is different, and the correct path will vary from person to person. … (2 comments)
mortgage qualification: The Road to Closing Isn't Always Smooth
- 09/01/17 01:18 PM
Here in the DC Metro/Northern Virginia area, inventory is so tight in certain price ranges that there are often multiple potential buyers for a home. You worked hard, staged your home just right, and the asking price for your home attracted multiple buyers. You now have an accepted offer, and are sailing toward closing. Nothing could go wrong, right? Not so fast. Problems can and do arise during the time it takes to get to closing. Here are just a few potential issues that could arise. Buyer’s Remorse This happens semi-regularly in areas like Northern Virginia, where short supply drives up prices and bidding wars … (0 comments)
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