In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to
Credit Score and Your Mortgage
In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show that you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.
Even if you are not in an incredibly competitive market, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach.
lays out the advantages of pre-approval in the ‘ ’ section of their website:
One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you through this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding
describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:
1. Your current and future ability to make your payments
2. The money, savings, and investments you have that can be sold quickly for cash
3. The home, or type of home, that you would like to purchase
4. Your history of paying bills and other debts on time
Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.
Many potential homebuyers overestimate the down payment and credit scores necessary to qualify for a mortgage. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so today.
10602 Timberwood Circle, Suite 3,
Louisville, Kentucky 40223
MLS# 1364 / MB73346
We are licensed in: Kentucky, Indiana and Florida.
As a licensed Realtor and Broker at Dye and Wright Realty, I am committed to being the best Realtor for all of your Real Estate needs. Please contact me for more information on homes for sale in Talla....