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Tips To Help Property Buyers Land A Mortgage - NY1

Tips To Help Property Buyers Land A Mortgage - NY1 | Carlsbad Real Estate News | Scoop.it
NY1
Tips To Help Property Buyers Land A Mortgage
NY1
Getting a mortgage is a complicated process, but certain tips can help buyers avoid getting turned down for one. NY1's Real Estate reporter Jill Urban filed the following report.
Jeff Dowler, CRS's insight:

It continues to be a challenge for buyers to get a mortgage, even those who are well qualified. Be prepared to jump through LOTS of hoops and document everything - bank accounts, IRAs, 401Ks, taxes, assets, income, money flowing into and out of accounts, etc. You might be surprised at what banks want to know and why, and sometimes it does not make sense. YOu don't have a choice so it's best to be prepared


Working with a knowledgeable mortgage professional who will take time to explain it all to you is essential. And you MUST do this before you get started on your house hunt.


Here are some other tips to help get that mortgage...

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Jane Brayton, Real Estate in Big Bear's curator insight, May 18, 2014 1:57 PM

Credit scores, debt and the property itself can be factors for securing a loan. If you are turned down then, it is time to investigate why and try again. I remember a client who was turned down by a lender then, approved and closed on a property within 2 months. Fortitude!

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Help A Seller Out: 5 Tips Buyers Would Give Sellers if they Could

Help A Seller Out: 5 Tips Buyers Would Give Sellers if they Could | Carlsbad Real Estate News | Scoop.it
It is a rare occurrence these days to have a home’s buyer and seller sit down around the kitchen table to make a deal.

Via Lyn Westhoff - Fresh Impressions Ltd.
Jeff Dowler, CRS's insight:

The sellers' market in Carlsbad means that demand for homes is being challenged by the amount of inventory. And that means competition on many homes. But the truisms of real estate are still true - an overpriced home is NOT going to sell in any market.

 

And just because there is competition for your home does not mean buyers are going to overpay, or will overlook deferred maintenance and other issues such as location. Buyers these days are pretty savvy and they have acccess to all the market information online as well as from their agents and they DON'T want to overpay.

 

Here are some pretty good tiups for Carlsbad home sellers to keep in mind. And of course having the guidance of a Carlsbad realtor who KNOWS the local market conditions is essential - do you know how to deal with multiple offers? Are you prepared for your home inspection?

 

Need some more tips? Let me know

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