Posts with tag 'Mortgage'
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9
How to Achieve Your 2023 Homeownership Goal
Housing has been through a wild ride in 2022. As the action settles down, our REALTORS® want aspiring homeowners to know there are plenty of opportunities to take advantage of. With the right strategy, 2023 can be the year you achieve the dream of homeownership.
31
Avoid Buyer Burnout With These 5 Tips
Even in a buyer's market with plenty of affordable houses with little competition, buying a home is a stressful endeavor. This stress is amplified in today's market, where prices remain high and scant inventory leads to bidding wars. You can quickly become emotionally drained between finding a home that suits your needs and navigating a grueling loan approval process. Our REALTORS® can take some of the strain off your shoulders, but it's just as important to arm yourself with information to avoid buyer burnout.
Read on for some tips and tricks on navigating what can be both a stressful and joyful journey.
7
How to Be Prepared in a Competitive Housing Market
Real estate markets across the country are red hot. It is not uncommon for sellers to receive numerous offers within days of listing their property. Time and time again, our REALTORS® have seen homes sell for well above their listing price. If you have your eye on the perfect property for your next home, we recommend taking the time to get prepared before you jump into the pool of buyers eager to get their hands on your dream home.
- Preapproval
Start by getting preapproved for a loan. This is more rigorous than a prequalification process and shows you precisely where you stand and how much the lender will loan for your purchase. There are multiple advantages to this when searching for Mansfield or Ashland homes for sale. It helps narrow down your search to only those properties within your price range. This speeds up the process considerably. It also shows you how high you can go if a bidding war breaks out. Equally important, when multiple offers are submitted, sellers are more likely to accept offers from preapproved buyers than those who are merely pre-qualified.
In fact, be prepared to pay more than the listing price. This is especially true for well-maintained homes in desirable locations. It's not unheard of for homes to sell for 100-110% or more of the asking price. As you search, factor this into your calculations and search for homes that are 95% or less of your preapproval.
19
Buyers: This is Why Your FICO Score is So Important
At Haring Realty, our REALTORS® know that some aspects of the home-buying process can be confusing.
Even buyers who have been through it all before don't know everything. And it can be even more worrisome for first-time buyers, who wonder about all the things they aren't familiar with yet. That can put a damper on the fun of looking at Mansfield or Ashland homes for sale.
One subject comes up again and again: Financing. Where to find a mortgage and how to get the best deal.
Choosing the best mortgage for you can save you thousands of dollars across the life of your mortgage. But buyers often go into the process knowing little about one of the most important factors that can influence your mortgage terms: your FICO score.
15
Why You Shouldn't Bypass the Pre-Approval Process
Our REALTORS® at Haring Realty strive to make homebuying easier. When looking at Mansfield and Ashland homes for sale, clients often have lots of questions. It's no surprise concerns around financing are common. That's not just true for first-time homebuyers, either: Whether they're buying a first place or a place to retire, everyone wants the best deal.
But the process of getting a mortgage can be complex. It's easy to get confused, which is one reason why the right real estate pro is such a valuable ally. One question that often doesn't get asked – because buyers don't have all the information at first – is this: "How does pre-approval affect my home search?"
Pre-approval can have a positive impact on your finances and the whole buying process.
Here's what to know.
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