Beware of "Too Good To Be True" Lenders

Real Estate Agent with Optima Properties BK 496540
Homeowners beware.
With the potential of a recession and rising mortgage rates; lenders are seeing fewer loan applications and many buyers are not able to qualify for legitimate loans. Homeowners are often coerced into using the equity in their homes to pay off debt, finance unexpected expenses and to cover job losses, etc.
Lenders that over promise are likely to be ones to stay away from. If you cannot qualify for a mortgage with a reputable financial institution if is best to wait to purchase a home until you can.
Read full article on Optima Properties' Blog

Comments (4)

Kimo Jarrett
Cyber Properties - Huntington Beach, CA
Pro Lifestyle Solutions

Perfect advice.

Feb 06, 2023 07:47 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Excellent advice Kim. I like to stay with my tried and true lenders that I know do a good job!

Feb 07, 2023 08:11 AM
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Great advice to anyone serious about buying a home in today's real estate market.

Feb 08, 2023 12:58 PM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great post!  Thanks for sharing and enjoy your day!

Mar 20, 2023 06:54 AM