Related Home Buying Process Articles
Buying a home versus renting is a big decision that takes careful consideration.
While there are several biased sources that can make arguments for or against owning a home, we’ve found that most home buyers base their ultimate decision on emotion.
Cost, Qualifying, Freedom, Maintenance and Security are some of the main reasons for renting, as well as owning.
…….(read more about Renting vs Buying)
While many experienced real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase to be delayed or denied.
New regulation, updated disclosures, appraisal guidelines, mortgage rate pricing premiums, credit score, secondary approval layering, rescission deadlines, property type, HOA insurance requirements, title and property flip rules are just a few of the daily changes that can have a serious impact on a borrower’s home loan financing.
…….(read more about Your Approval)
Short sales, foreclosures and new construction homes all have caveats that need to be considered when pursuing financing.
If the guidelines and potential pitfalls are not properly understood, you could face delays in closing or potentially even a denied loan.
Property Condition, Timing Challenges, New Construction Appraisal Process… are a few issues that your agent will need to have experience paying attention to in order to ensure a smooth mortgage funding and closing process.
…….(read more about Purchasing A Foreclosure or Short Sale)
Getting a new mortgage for a First-Time Home Buyer can be a little overwhelming with all of the important details, guidelines and potential speed bumps.
Since there are so many rules and steps to follow, we’ve put together a simple list of Do’s and Don’ts to keep in mind throughout the mortgage approval and closing process.
Consolidating credit cards, paying off collections and multiple inquiries on your credit report are a few things that could have a negative impact on an approval.
…….(read more about First-Time Home Buyer Credit Checklist)