mortgage lender: Building Your Home Buying Team
- 11/20/22 10:52 AM
There are a lot of professionals involved in the homebuying process. And when these people can function as a team, the buyer is much more likely to end up where they want to be...in their new home. The lender is an integral part of the team unless you are going to be paying cash. Trust is very important when selecting this person because they are going to qualify you for the mortgage you need. The interest rate and fees should be fair based on your credit, income, and the market. You'll want someone who can close at the rate and terms that were quoted. In a … (3 comments)
mortgage lender: Difficult to Buy What Is Not For Sale
- 07/14/22 01:35 PM
Buyers are becoming discouraged there are not enough homes on the market, especially, in certain price ranges. When they do find something they want, there may be multiple offers and they end up losing to another buyer. Some buyers after experiencing several of these instances have decided to wait until the market changes. It is understandable but it may be a very long wait as well as being a very costly decision. Inflation is affecting all sectors of the economy; prices on food, cars, and electronics are going up as well as housing and mortgage rates. Home prices rose 20.2% year over year … (4 comments)
mortgage lender: Buy Before You Sell Options
- 11/01/21 05:22 PM
The decision to buy first or sell first, has always been a little of the "Which came first: the chicken or the egg?" type of question. Is it better to buy another home before you sell your current one or sell the current one before you buy the replacement? Some buyers don't have a choice because they need the equity out of the current home to purchase the new one and possibly, their income limits their ability to qualify for having both mortgages at the same time. However, some buyers, with sufficient financial resources, may have other options available to facilitate the move. … (2 comments)
mortgage lender: Increase Your Marketability
- 06/13/16 01:56 PM
The seller has three tools available to affect the marketability of their home: price, condition and terms. Price is the easiest to adjust for the competing properties, amount of inventory or market conditions. However, lowering the price is not necessarily the best decision when trying to maximize the proceeds of sale. If a home is in poor or outdated condition, updating can be done to make it show favorably with other homes that are currently on the market. Sometimes, sellers rationalize not doing the work by saying they believe the buyers would rather make their own choices. The truth is that most … (1 comments)
mortgage lender: If you're going to play, GET IN THE GAME
- 06/13/16 01:34 PM
If competition is a buyer’s biggest concern, for goodness’ sake, get in the game. In a new survey of close to a thousand home buyers conducted by Redfin, affordability is still the number one concern but due to low inventories, competition from other buyers is moving its way up the poll. 26% identified affordability while 19% mentioned competition and 15% mentioned low inventory as their respective top concerns. To win, athletes study the competition to come up with a plan and buying a home is not different. Ask what terms are important to the seller before you write the offer. Once you decide … (2 comments)
mortgage lender: 1/2% Could Make a Big Difference
- 03/04/15 03:20 PM
Over 50% of homebuyers don’t shop to find the best interest rate for their mortgage. While a buyer would rarely purchase the first home they look at, they will accept the rate and terms offered by only one lender. While the borrower and the property affect the rate and terms that a lender may offer, it is not to be said that all lenders will offer the same terms and rates to the same buyer. Credit score, home location, home price and loan amount, down payment, loan term, interest rate type and loan type all affect the interest rate but … (3 comments)
There are a lot of professionals involved in the homebuying process. And when these people can function as a team, the buyer is much more likely to end up where they want to be...in their new home.
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