Hi there!
This week, I came across a great article on CNN.com on what buyers and sellers should know in 2014. The full article is here, but these are the three biggest takeaways:
1. If you receive multiple offers on a property, call the buyer’s lender to confirm they have been qualified so the process moves quickly and smoothly.
2. The average interest rate on a 30-year fixed loan may rise by the 2015 spring buying season, according to Freddie Mac. That means now is the right time to buy.
3. To have your buyer stand out, urge the person to go beyond pre-approval and into underwriting before they shop. Once a client goes through underwriting, they become a much stronger candidate for the seller.
At Tidewater Home Funding, we offer a TBD loan process (person’s credit file is underwritten even without a contract on a property). Once the client puts a contract on the property, we can then close faster.