Before you can buy a house, you need to make sure you can afford it and that there will be financing options available to you. This is where a pre-approval comes in. As mortgage lending criteria has become more strict over the years, the pre-approval and the increased certainty and confidence that goes with it has become an essential first step for the would-be-home-buyer.
Real estate transactions are complex; there's no doubt about it. With the number of moving parts and the drawn out timeline, buying a house is one of the more complicated transactions the average person will undertake in a lifetime. Luckily, you don't have to go it alone. Throughout the home buying process, a team of real estate professionals will support and guide you along the way. Like Frodo on his quest to deliver Sauron's ring to the fires of Mount Doom, a dependable team of trusty sidekicks will get you where you need to be.
There are many ways to cause yourself stress and frustration in a real estate transaction. Failing to properly set an adequate condition of finance when drafting an offer to purchase is one of the easiest ways to send your stress meter through the roof (as well as the stress meter of the professionals helping you).
In this blog, we are going to talk about how a client of mine was able to rearrange her finances such that she and her partner could mortgage qualify for a $400K target house in their neighborhood.
As it relates to mortgages, credit can often take the longest time to fix if there are problems, so accessing your report to make sure all is in order is a definite first step if you are thinking about a mortgage any time soon. Here's how...
My phone rings, chat bubble bubbles, or my email dings ... "what's your best interest rate?" asks the caller. I scratch my head, as at this point I know nothing about my caller, the property or their needs. This article's aim is to shine a light on this question from the mortgage-lending side of the fence and delve into what it takes for a mortgage professional to be able to accurately answer your question.
About this blog
Our Richards Mortgage Group blog is a wealth of information for anyone looking to apply for a mortgage to purchase or refinance a property. Browse through the articles and find the topics that are most useful to you in your home mortgage information search. Find out if You Can Get a Mortgage here.
