Backup offer Mortgages Pre-approval 
Redfin
MARCH 5, 2025
Maintaining a low debt-to-income ratio and a strong credit score can also enhance your eligibility for favorable mortgage terms. A mortgage pre-approval can give you a clearer picture of your financial standing and help you secure a deal faster. The 28/36 rule is a common mortgage budgeting guideline.
Redfin
MARCH 5, 2025
Maintaining a low debt-to-income ratio and a strong credit score can also enhance your eligibility for favorable mortgage terms. A mortgage pre-approval can give you a clearer picture of your financial standing and help you secure a deal faster. The 28/36 rule is a common mortgage budgeting guideline.
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RIS Media
APRIL 18, 2022
Getting rid of the mortgage financing clause in their offer. You may see some of these things or all of them before making an offer. It will help tailor your offer when the time comes. It may make sense to put in a backup offer when you’re not the winning bidder. Get pre-approved for a mortgage.
Realty Biz
NOVEMBER 11, 2020
The Mortgage Financing Contingency. Even if the buyer has pre-approval for a mortgage, things can still go wrong when they apply for the loan. Perhaps, they have taken out a fresh loan, or their situation has changed in some other way since pre-approval. Can you Make an Offer on a Contingent Home?
RIS Media
APRIL 8, 2022
While financing may be pre-approved, the process is complex. Real Estate appraisals are usually completed when homes are bought via mortgage loans. Some contingent offers are subject to a home buyer being able to sell their current home to be able to finance the new one. Low appraisal. The title search reveals issues.
HomeLight
NOVEMBER 1, 2021
It’s likely that you will sell your home to a buyer who will finance the purchase with a mortgage. According to the National Association of Realtors (NAR), 87% of home buyers finance property purchases with a mortgage. Mortgage companies require an appraisal to determine the value of a home. This works in the seller’s interest.
HomeLight
JUNE 9, 2023
A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet. These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home.
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