Housing Wire
DECEMBER 8, 2023
Educate your clients about financing While many homebuyers can benefit from a 30-year, fixed-rate conventional mortgage , other borrowers might need access to other loan programs with more lenient guidelines. Make sure your buyers understand the difference between being prequalified, preapproved and loan-committed.
Realty Biz
MARCH 19, 2022
Land purchases are often made in cash because lenders are less inclined to provide a loan or a mortgage for undeveloped land. Remember that proof of funds is also important when making a cash offer as it helps the land seller be confident that you gave access to the money. Photo by Eneko Uruñuela on Unsplash. In Conclusion.
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Redfin
FEBRUARY 4, 2022
These qualities are what sets them apart from new construction, such as a modern craftsman home or ranch style house. But, buyers beware, owning a historic home isn’t always as easy and breezy as maintaining a newly constructed one. Is it an example of a historic style or was constructed by a prominent architect? .
Realty Biz
SEPTEMBER 28, 2022
That could decrease the loan amount the homeowners can take out to buy the residence. If so, lenders may turn down your loan application due to the condition of the property, which could lead to additional costs for repairs. Experienced Have a track record Have proof of funds. Lenders view all of the appraisals.
HomeLight
MARCH 13, 2023
New construction surge contributing to competition for buyers. They may want to avoid the 6% interest rate of a loan by buying with cash. No pre-qualifying for a loan. Instead, however, he advises sellers to validate cash buyers for proof of funds. iBuyers see opportunity in Austin. It’s a simple equation.”
HomeLight
FEBRUARY 3, 2022
This eliminates the processing of a buyer’s loan and home appraisal, which are typically the two most time-consuming steps in the home sale process. It’s also good practice to screen buyers for pre-approval or proof of funds before they view the home to cut back on useless showings. According to Dec.
HomeLight
APRIL 26, 2023
The first due diligence you want to do is make sure they have proof of funds ,” Graham recommends. You don’t want to find out two days before closing that the loan didn’t come through and the deal falls apart after you’ve already moved out of your house. Require everything in writing. What will you be asked?
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