Some Facts to Consider in Todays Housing Market
20% Down Payment Is No Longer A MUST
When planning for home ownership, one of the first thoughts that comes to mind is what can we afford and how do we get there? Back in the day, it was 20% and that was one of the biggest barriers to homeownership. Now, with the many amenities and options available for first time homebuyers, our Account Executives can work with you and your budget so qualified applicants can put as little as 3% down. That’s right, 3% down!
Low Inventory and High Housing Demands
Homeownership is a on a rise and home inventory is very limited. What are you looking for in a house? What are some details and compromises you are and are not willing to make? These factors are going to help you narrow down your search and while no house will be perfect, your best strategy is to educate yourself, do your homework, make your list, and ACT fast. Check out our first time home buyers guide for more tips.
Sellers Are In the Driver’s Seat
As the home inventory is limited nationwide, sellers tend to have the upper-hand to gear and control the sale. That means your negotiating skills and Pre-Approval status can really push you to the front of the line.
Obtaining Pre-Approval and Conditional Approval letter begins with a simple step at Guidance Residential. You can complete our Pre-Qualification form on www. GuidanceResidential.com to get introduced to an expert Account Executive who will then guide you through the process to receive Pre-Approval and eventually Conditional Approval letters. Pre-Qualification does not require a credit check and takes 10 minutes to complete online.
Another tip to soften your seller is to provide a letter explaining to your seller why you’d love to buy their home. There’s no guarantee you’ll get everything but it’s a good idea to ask.