Let's Get REAL Estate

We hear it (and say it) every day...GET PREAPPROVED if you're financing! Anyone who is trying to finance probably knows...IT'S TOUGH OUT THERE! Especially for financing. Reports from the top 10 lenders showed that 26.8% of loan applications were denied in 2010! That's up from 2009's figure of 23.6%. Most lenders additionally report that they have no plans to loosen their requirements. Quite the opposite...many plan to tighten requirements further.

So what does this mean for you? It means...BE PREPARED and KNOW YOUR CREDIT HISTORY! Your credit score is important, to be sure, but when trying to get a mortgage it's not the only important thing. People with 800+ credit scores have been turned down because of unstable work history (2 or more years).

If you're thinking about a home purchase it is extremely important to sit down with a lender and go over your credit history and score. They will be able to guide you through ways to improve your credit report if necessary or they can get you pre-approved so you will know just how much you can spend. This is SO important because most offers you will make require the pre-approval WITH the offer...or within a very few days of acceptance. So why not get it out of the way before you even start looking. Take some of the uncertainty out of the process before you even start! Believe me, there is enough uncertainty in this market...try not to make it harder than it has to be!

If you want to prequalify and don't know where to turn...we can point you in the right direction. We work with several excellent lenders and mortgage brokers who would LOVE to help you!