GETTING PRE-APPROVED
A pre-approval is needed to submit an offer. It gives the seller proof that a lender has reviewed your preliminary documents and has determined you are very likely going to be approved for a loan to buy their house. Cash offers require a proof of funds letter from your bank.
Shopping for a lender
It is a good idea to speak to a couple different lenders before deciding who you’d like to work with. When interviewing loan officers, ask them the following:
- What is the best type of loan for me?
- Do I qualify for any special loan programs or discounts?
- Are your rates, terms, fees and closing costs negotiable? (and what are they?)
- When can you lock in my rate, and how long is it locked for?
- Will I have to pay for private mortgage insurance (PMI)? If so, how much will that cost?
- Can I buy down points for a lower interest rate?
- How much should I expect to pay in closing costs?
Initial docs needed for a pre-approval letter:
- Recent tax returns
- W-2 forms
- Paystubs
- Bank Statments
- List of monthly debt
- Credit report (you will give them permission to pull your credit. It will not drastically effect your score, but you want to limit the amount of pulls if you are shopping lenders).
Seeing your house sit on the market without any bites is the ultimate frustration.
After months of sitting on the sidelines, many homebuyers who were priced out by high mortgage rates and affordability challenges finally have an opportunity to make their move.
That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments.
If you’re wondering if you should buy now or wait, here’s what you need to know.
Make it Inviting
You want your house to sell quickly and for top dollar. But pricing it too high can seriously jeopardize those goals. So, once your house is listed, watch out for these 4 signs that it's overpriced. And if any of these are happening to you, be sure to lean on your agent to course correct.
When it’s time to buy or sell a home, one of the most important decisions you’ll make is who you’ll work with as your agent.
Should you buy a home now or should you wait? That’s a question a lot of people have these days.
Believe it or not, almost 80% of first-time homebuyers qualify for down payment assistance, but only 13% actually use it.
All parties will find a time to meet at the closing office (on the closing date agreed to in the contract or a change in date agreed upon by all parties) to sign all the closing documents. Typically, the sellers have signed their agreements and do not attend closing. I will be there representing you as my client. If you have obtained a lawyer, they will be there also in their office to close along with the title company "closer" who will go over all the documents with you, will get all signatures needed ¬tarize, then they will get the deed recorded and transferred with the county, supplying you with all copies.