Charlotte Home Mortgage: Time is Running Out!

Mortgage and Lending with "The MORTGAGE SMITH" - New American Mortgage

Charlotte Home Mortgage: Time Running Out!

The leaves are turning and fall will soon be over.  Another thing that will be over soon is the first time homebuyers $8,000.00 tax credit.  If you are looking for a Charlotte home mortgage and still haven't found the house of your dreams, you better HURRY!  As of today, there are only 35 days left to close on your new home. 

This weekend I was driving around the many communities around Charlotte and noticed all the many "open house" signs.  I don't think I have ever seen this many open house signs.  Many home buyers and their Realtors are prepping their listings for the final push.  Buyers, getting a Charlotte home mortgage, are looking for bargain and sellers are looking for eager buyers to close on their home before the tax credit expires.  And although there may be some excitement in the air, heading into these last days, buyers and seller must be aware how soon the deadline is coming (Nov. 30th).  I have received 2 new contracts just this weekend for first time homebuyers looking to close on their Charlotte home mortgage, and I have 35 days to do it!  This can still be accomplished, but you need to be prepped and ready to execute. 

Many of the Big Banks have even already stopped accepting mortgage applications, because they are unable to hit the Nov. 30th deadline.  It is important you have a plan and execute that plan quickly with the support of mortgage and real estate professionals that have the ability and experience to guide you through the process.

Here is a short list of things you need to do:

1)  Get Income Together:  Get your most recent pay stub and last years W-2 or tax return.  It is also helpful to have you most recent bank statement, if you have one.  If not, be familiar with your balance.

2) Get Pre-Qualified:  Call me or a trusted mortgage professional as soon as possible and request a pre-qualification.  To save time, you should be able to do this over the phone.  The focus is on... Income, Credit and Down Payment.  If you clear these basic hurdles over the phone, then make an appointment to get pre-approved.  If there is some concern about the any of these, your mortgage professional will guide you on the next step.

3)  Get Pre-Approved:  In a pre-qualification, you just verbally offer the qualification information over the phone.  A pre-approval is actually meeting with a mortgage professional and verifying everything.  At that time they will go over terms and the mortgage process.  (If they require an upfront "application fee"... leave!)

4)  Call and make appointment with Realtor:  Make sure you put the horse in front of the cart, so get pre-approved first and then connect with a Realtor.  The Realtor wants to make sure you are a bonafide buyer and ready to look at properties.  If you are pre-approved, they will be able to do their job quicker and more effective.

5)  "Get Game Face On":  You are pre-approved and your Realtor has narrowed down your search to your top 6 houses.  Schedule appointments to see all these house in 1 day.   

6)  Make Offer:  Once you seen the 6 houses, be prepared to make an offer on one.  (You don't typically want to rush this process, but this article is about meeting the fast approaching deadline, so time is crucial).  Your Realtor will guide you through the offer process.

7)  "Accepted Contract!":  You have an accepted contract on a house!  At this point your mortgage professional and Realtor take over moving forward.  I encourage you to hire an inspector to do a home inspection.  Do this ASAP.

These sound like obvious simple steps, but each one is important.   You shouldn't have any problem closing on a mortgage transaction in 35 days, even a FHA mortgage, if you quickly follow these steps.  The longer you wait, the more pressure will result and may jeopardize being able to make the deadline!

I love to work with first time homebuyers and I take a lot of pride "holding the hands" of my clients all the way to the closing table.  If you are looking for a Charlotte home mortgage or a mortgage for your property in the surrounding Charlotte area, and I can be of any assistance as we approach these final crucial days, please feel free to call me and my team.  I have over 11 successful years experience helping homeowners achieve their dream of homeownership!  Call John"The Mortgage Smith" at 704-299-5507 or email me at                             Check out our website at 

Comments (2)

Ruth Vogt
Fairway Independent Mortgage, LLS. Equal Housing Opportunity. Regulated by the Division of Real Estate. - Colorado Springs, CO
719-592-0855 Apply 24/7

Great post, John! I hope new buyers will use this as a check list. It will take a lot of the stress out of the process if they use your "map" to get them from point A to Point Z (as in Reg Z!)  :)

Jan 24, 2010 07:03 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

These are great tips for a prospective home buyer, John.

Aug 23, 2011 03:56 PM