Mortgage matters

When should I apply for a mortgage pre-approval?

Mortgage pre-approval is needed in order to make an Offer in our area. Anyone without a pre-approval appears disorganized, at best, and is likely to be written off by a seller as not worthy of consideration, at worst. The first question from a seller or seller’s agent about an offer is “How much?” The second

By |2024-02-20T08:31:56-05:00February 21st, 2024|Categories: buying process, Mortgage matters|Tags: , , , |

What can ruin your credit score

There is a logic to the way the lenders choose who can borrow for a mortgage. Since 2014, mortgage loans have had standard guidelines that require that any mortgage borrower be able to prove that they can repay their loan. Lenders document income, but also debt. How you have been handling debt will affect your

By |2024-02-11T10:16:11-05:00February 14th, 2024|Categories: buying process, Money and finance, Mortgage matters|Tags: , , , , |

The Discouraging Time of the Year for Buyers

We’re in the discouraging time of the real estate year, as buyer’s agents. April and May are the peak months for competition among buyers for properties for sale. In other words, bidding war season. There are bidding wars all year, but more so in the spring. As properties are coming onto the market (which began

What is a Mortgage Discharge and Why Do You Need One?

A mortgage is a debt, and an old debt can delay a closing. It almost never happens when there are professionals representing the seller. Once in a while, a seller doesn’t have a thorough attorney or broker. Then a title search will find out that their property still has an open mortgage without a recorded

Applying for a mortgage pre-approval and your credit score

Mortgage pre-approval is needed in order to make an Offer in our area. Anyone without one appears disorganized, at best, and is likely to be written off by a seller as not worthy of consideration, at worst. The first question from a seller or seller’s agent about an offer is “How much?” The second is

By |2022-07-06T10:10:44-04:00July 13th, 2022|Categories: buying process, Mortgage matters|Tags: , |

Property Tax, Interest Rates, and Your Monthly Payment

What can cause your pre-approved mortgage to fail, last minute, in 2022? Property tax and interest rates. If you are borrowing the full amount of your pre-approved mortgage, you need to check the total monthly cost of a property before you make an offer. Your lender pre-approved you based on a typical property tax and

By |2022-06-07T09:37:11-04:00June 8th, 2022|Categories: Money and finance, Mortgage matters|Tags: , , , , |

Getting a mortgage: the paper trail you will follow

If you have a new year’s resolution to buy a house in 2022, here are some things you can do to smooth the path to getting a mortgage. The paperwork does not have to be overwhelming, if you are prepared. The mortgage broker, also called a loan originator, is responsible to the lender to prove

By |2022-01-17T12:03:42-05:00January 18th, 2022|Categories: buying process, Mortgage matters|Tags: , , , |

Are you Making a Mistake by Refinancing?

Given the historic lows for interest rates, it’s a good time for homeowners to review their mortgage information.  It’s easy to get excited by low rates, but everyone should evaluate a new loan based on their current financial situation as well as their long-term goals. Do the math to make a better decision on refinancing

By |2024-02-07T13:37:48-05:00October 21st, 2020|Categories: Money and finance, Mortgage matters|Tags: , , , , , |

Covid Update: Mortgage Lending

4 Buyers Real Estate gives our clients a list of mortgage lenders who have been tried and true for us and our past clients. What do we expect from lenders on our list? Good communication throughout the process. No last-minute drama. Close on time. Can I get a mortgage now?  If you have a 20