Homebuyers usually are responsible for paying any extra fees and costs charged by the lender and other third parties on closing day!

Private mortgage insurance (PMI) is required when a conventional loan is used to purchase a house.

The amortization schedule helps you visually see the equity being built in your home with each payment.

Interest is a major determining factor you in your monthly mortgage payment. Mortgage rates fell below 3% yesterday for the first time ever!

Equity = Financial Flexibility

Appraisals make or break real estate transactions!

In an effort to educate future homebuyers I have chosen to share knowledge weekly across all my platforms in a social media campaign titled, "Tweet of the Week".  The topics covered will vary based on the news surrounding the real estate sector at the time. Initially I will introduce real estate terms that will be useful on your journey to acquire residential real estate. If you have topic suggestions or even want a question answered please contact me 704-941-0624

When the number of buyers in the housing market outnumbers the number of homes for sale, it’s called a “seller’s market.” The advantage tips toward the seller as low inventory heats up the competition among those searching for a place to call their own. This can create multiple offer scenarios and bidding wars, making it tough for buyers to land their dream homes – unless they stand out from the crowd. Here are three reasons why pre-approval should be your first step in the homebuying process.
 
1. Gain a Competitive Advantage
Low inventory, like we have now in Charlotte, means homebuyers need every advantage they can get to make a strong impression and close the deal. One of the best ways to get one step ahead of other buyers is to get pre-approved for a mortgage before you make an offer. For one, it shows the sellers you’re serious about buying a home, which is always a plus in your corner.
 
2. Accelerate the Homebuying Process
Pre-approval can also speed up the homebuying process, so you can move faster when you’re ready to make an offer. In a competitive arena like we have today, being ready to put your best foot forward when the time comes may be the leg-up you need to cross the finish line first and land the home of your dreams.
 
3. Know What You Can Borrow and Afford
Here’s the other thing: if you’re pre-approved, you also have a better sense of your budget, what you can afford, and ultimately how much you’re eligible to borrow for your mortgage. This way, you’re less apt to fall in love with a home that may be out of your reach.

​What’s Next?
Contact me today at 704-941-0624 to map out your path to homeownership. As you have read a pre-approval is the best way to begin the homebuying journey and I can walk you through each step including recommending a mortgage lender who can complete your pre-approval.