It's estimated that 10% of the homes sold in 2013 will be to buyers who lost a
home in the past five years. Approximately 500,000 buyers who may have thought
they wouldn't own a home anytime in the near future will be homeowners
again.
It's estimated that several million of these previous homeowners will
purchase again in the next eight years. This kind of activity will contribute
significantly to the housing recovery.
Some people thought that the housing crisis would cause a shift in values
placed on owning a home but the boomerang buyers definitely don't support that
theory. Having a home of your own, where you can raise your family, share with
your friends and feel safe and secure is still part of the American Dream.
The rising rents, increasing prices and low, low mortgage rates are also
influencing buyers into the market. In many cases, it is cheaper to own that to
rent.
All new buyers, including those who have experienced foreclosures or
bankruptcies, must have good credit history and the ability to repay the loan.
It just may not take as long to reestablish the credit as some would-be buyers
might have thought.
Read more about Bidding
Wars This Spring, Spring's
Wild Card and Boomerang
Buyers.
Showing posts with label Ames. Show all posts
Showing posts with label Ames. Show all posts
Thursday, May 16, 2013
Tuesday, May 14, 2013
Uninsured and Underinsured Motorist Insurance
Uninsured and Underinsured Motorist insurance coverage
protects the insured if he/she is involved in an accident with a “non insured”
or “underinsured” individual.
The
level of uninsured or underinsured insurance coverage a client carries is
normally equal to the bodily injury liability limits carried on your
primary vehicle insurance policy. These
limits are often noted as “$100,000/$300,000” on the declaration sheet of your
vehicle insurance policy.
The
“$100,000” coverage is the limit payable by the insurance company per
person. The “$300,000” coverage is the
limit payable by the insurance company for any particular occurrence.
Contact
your favorite insurance agent (Ryan Edgington, Burton Heginger, Andrea Shearer, or Tessa Everman)
at the Triplett Companies (515/232-5240) for more information on such coverage
and the pricing of that coverage.
Thursday, May 9, 2013
Win Over the Buyer
It’s interesting that the housing climate has changed so quickly.
Some buyers, who think they’re still in the driver’s seat, find the
market is now going up and they’re losing the home that they really
want.
Multiple offers are increasingly more common and buyers are frustrated because even full-price offers don’t guarantee that they’re going to get the home. In an effort to personify a contract offer and add emotional appeal, buyers are including a personal letter to the seller.
In most cases, the seller wants to maximize the net proceeds from the sale by getting the highest price with the least expenses and an assurance that the home will actually close on time without surprises. When a seller is faced with multiple offers that may be close to the same net, an emotional appeal might make the difference in them accepting a particular offer. That’s where the letter comes in play.
It should be a relatively short letter that gets to the point. The tone of the letter should be humble while positive and definitely, shouldn’t mention that you may have lost other homes due to multiple offers.
Being pre-approved with good credit, adequate financial resources, good employment, sufficient earnest money and a reasonable offer with minimum contingencies will favorably position you. A personal letter might be the deciding factor in your favor.
Multiple offers are increasingly more common and buyers are frustrated because even full-price offers don’t guarantee that they’re going to get the home. In an effort to personify a contract offer and add emotional appeal, buyers are including a personal letter to the seller.
In most cases, the seller wants to maximize the net proceeds from the sale by getting the highest price with the least expenses and an assurance that the home will actually close on time without surprises. When a seller is faced with multiple offers that may be close to the same net, an emotional appeal might make the difference in them accepting a particular offer. That’s where the letter comes in play.
It should be a relatively short letter that gets to the point. The tone of the letter should be humble while positive and definitely, shouldn’t mention that you may have lost other homes due to multiple offers.
- Try to identify a common feature or characteristic of the home that is important to the seller and you.
- Don’t criticize the home or tell them about all of the improvements you need to make to justify your offer.
- Do verbalize why living in this home is important to you and your family.
- Assure the seller that you can indeed qualify for the home and that if they accept your offer, the sale will be consummated.
Being pre-approved with good credit, adequate financial resources, good employment, sufficient earnest money and a reasonable offer with minimum contingencies will favorably position you. A personal letter might be the deciding factor in your favor.
Tuesday, February 19, 2013
PROPERTY INSURANCE REPLACEMENT COST
“Replacement
cost” insurance is a type of property insurance coverage that generally pays
for the “depreciated” value of the damaged property.
Tuesday, January 29, 2013
PROPERTY INSURANCE REPLACEMENT COST
“Replacement cost” insurance is a type
of property insurance coverage that generally pays for the “depreciated” value
of the damaged property.
Subsequently, the actual cost of
restoring the property would most likely require additional funding from you to
renew the property to its condition at the time of the loss.
If you find yourself in this
situation, be sure to complete the repairs on the damaged property as soon as
possible as most policies have a time limit for payout. Also maintain accurate records regarding all
expenditures incurred in the restoration of the property.
Call or e-mail Mike, Andrea, or Tessa at
the Triplett Companies today for additional insight and information regarding
the “replacement cost” clause of your property insurance policy.
Thursday, January 3, 2013
Cancelling Insurance
Do not assume that your insurance policy
will be cancelled without any adverse actions if you simply do not pay your
insurance premium.
Wednesday, December 19, 2012
Single-Family Homes
Single-family homes used for rental property have distinct advantages over
other types of investments.
An investor can borrow 75-80% at fixed interest rates on appreciating assets with definite tax advantages and reasonable control. The financing alone is attractive compared to some investments that require 50% cash and have floating rates at prime plus for one or two years.
Home prices have adjusted 30-40% around the country, mortgage rates are incredibly low and rents have risen in the past two years due to more demand and shorter supply. Indicators like these point to a strong and sustained rental market.
Consider you bought a $125,000 home for cash that would rent for $1,250 per month. With $15,000 income and allowing for property taxes, insurance and maintenance, it is still reasonable to expect $10,000 net income. You'd have an 8% return on investment without considering tax savings or future appreciation compared with 5-year CDs paying less than 1.5% and a 10-year Treasury yield at 1.65%.
The reasonable control has a lot of appeal to many investors who find the volatility of the stock market unacceptable and don't want the risk associated with some of the alternative investments. Please contact me if you'd like to know more about available opportunities.
An investor can borrow 75-80% at fixed interest rates on appreciating assets with definite tax advantages and reasonable control. The financing alone is attractive compared to some investments that require 50% cash and have floating rates at prime plus for one or two years.
Home prices have adjusted 30-40% around the country, mortgage rates are incredibly low and rents have risen in the past two years due to more demand and shorter supply. Indicators like these point to a strong and sustained rental market.
Consider you bought a $125,000 home for cash that would rent for $1,250 per month. With $15,000 income and allowing for property taxes, insurance and maintenance, it is still reasonable to expect $10,000 net income. You'd have an 8% return on investment without considering tax savings or future appreciation compared with 5-year CDs paying less than 1.5% and a 10-year Treasury yield at 1.65%.
The reasonable control has a lot of appeal to many investors who find the volatility of the stock market unacceptable and don't want the risk associated with some of the alternative investments. Please contact me if you'd like to know more about available opportunities.
Tuesday, December 18, 2012
Discounts on Insurance
It’s Christmas time and maybe you haven’t
received your holiday bonus, or perhaps you spent a little too much on gifts,
and now you dread your insurance bill arriving in the mail.
Never fear, discounts are here!
Multi policy:
Most insurance companies offer discounts
for multiple insurance policies with their company. Consider combining your
vehicle, home, and umbrella policy with one carrier and see how much you can
save!
Good Student:
If you or your child is under 25, in
school, and has a GPA of 3.0 or below, you qualify for the Good Student Discount!
Simply send us a copy of your most recent transcript showing your GPA.
Limited Driving:
Do you only drive your vehicle to church
on Sundays? Does your vehicle sit in the garage most of the time? Some carriers
provide limited driving discounts.
Loyalty:
Did you know that insurance companies
actually give you with a discount for being loyal to them? Even if you do decide
to switch insurance companies, you can receive a discount for the number of
years you were with your old insurance company.
Be sure to contact Mike, Andrea, or Mandee
at the Triplett Companies and ask them to compare the cost savings you could
enjoy by utilizing some or all of these discounts!
Monday, December 17, 2012
15 Year Loan Over a 30 Year Loan
Whether you're refinancing your current home or buying a new one, something
worth considering is a 15 year loan rather than a 30 year term. The payments
will be a little higher but you'll get a lower interest rate and you'll build
equity much faster.
Let's look at an example of a $200,000 mortgage with the choice of a 30 year
term with a 3.75% rate compared to a 15 year term with a 2.875% rate. The
payments would be $442.94 higher on the shorter term but the equity would be
considerably higher even after you adjust for the higher payments.
Another benefit is that the shorter term loan creates a forced savings situation where the savings on a longer term loan might end up being spent rather than being saved and invested. Contact me if you'd like a recommendation of a trusted lender.
Another benefit is that the shorter term loan creates a forced savings situation where the savings on a longer term loan might end up being spent rather than being saved and invested. Contact me if you'd like a recommendation of a trusted lender.
Wednesday, December 12, 2012
Your Dream of Owning a Home is Possible
The American Dream of owning a home is still alive. People still want a place
of their own; where they can raise their family; share with their friends; feel
safe and secure. Homeownership creates emotional and financial benefits.
The government supports that dream by allowing deductions for mortgage and home equity interest as well as property taxes. The
capital
gains exclusion on profits from a home is incredibly generous and a low
long-term capital gains tax rate applies to excess profits.
It's reported that some of the social benefits of owning a home include higher voter participation, better physical health, higher student test scores, lower teen delinquency, neighborhood stability and pride in the community.
If for no other reason, the decision to buy a home should be considered when it costs much less to own a home than it does to rent. With the unusually low available mortgage rates, the payment is generally less than comparable rent. However, the decision becomes more obvious when the other benefits are considered like amortization, appreciation and tax savings.
It's not uncommon for the net cost of housing to be half of the actual mortgage payment. In most cases, it is significantly more to rent than to own which could amount to more than the down payment in the first year alone. Calculate your cost of Renting vs. Owning.
The government supports that dream by allowing deductions for mortgage and home equity interest as well as property taxes. The
capital
gains exclusion on profits from a home is incredibly generous and a low
long-term capital gains tax rate applies to excess profits.It's reported that some of the social benefits of owning a home include higher voter participation, better physical health, higher student test scores, lower teen delinquency, neighborhood stability and pride in the community.
If for no other reason, the decision to buy a home should be considered when it costs much less to own a home than it does to rent. With the unusually low available mortgage rates, the payment is generally less than comparable rent. However, the decision becomes more obvious when the other benefits are considered like amortization, appreciation and tax savings.
It's not uncommon for the net cost of housing to be half of the actual mortgage payment. In most cases, it is significantly more to rent than to own which could amount to more than the down payment in the first year alone. Calculate your cost of Renting vs. Owning.
Tuesday, December 11, 2012
Primary Factors For Investment
Rental properties have four primary factors that contribute to a return on
investment. Based on market conditions and investor strategies, the individual
motivating factor can change for property owners.
There was a time when the benefit of tax savings to offset income from other sources was considered important to some investors. However, in today's environment, they are more likely valued as incidental benefits.
Some investors expect appreciation to deliver the satisfactory results which can be reasonable over time if a reliable appreciation rate is used. Savvy investors today are using conservative estimates for long-term holding periods.
Leverage occurs when borrowed funds are used to control a larger asset. Positive leverage can actually increase the yield on an investment.
The fourth component that contributes to a property's yield is the cash flow. When the rents are greater than the expenses of operating the property and servicing the debt, there is a positive cash flow. A property with a good cash flow doesn't have to go up in value to justify the investment.
The combination of lower prices, incredibly low mortgage rates and rising rents are attracting investors to rental properties that include single-family homes in predominantly owner-occupied neighborhoods.
Even if you were to ignore the benefits of tax savings, potential appreciation and leverage, the attractive cash flows make rental property a very smart investment alternative. If you're curious, contact me for more information.
There was a time when the benefit of tax savings to offset income from other sources was considered important to some investors. However, in today's environment, they are more likely valued as incidental benefits.
Some investors expect appreciation to deliver the satisfactory results which can be reasonable over time if a reliable appreciation rate is used. Savvy investors today are using conservative estimates for long-term holding periods.
Leverage occurs when borrowed funds are used to control a larger asset. Positive leverage can actually increase the yield on an investment.
The fourth component that contributes to a property's yield is the cash flow. When the rents are greater than the expenses of operating the property and servicing the debt, there is a positive cash flow. A property with a good cash flow doesn't have to go up in value to justify the investment.
The combination of lower prices, incredibly low mortgage rates and rising rents are attracting investors to rental properties that include single-family homes in predominantly owner-occupied neighborhoods.
Even if you were to ignore the benefits of tax savings, potential appreciation and leverage, the attractive cash flows make rental property a very smart investment alternative. If you're curious, contact me for more information.
Monday, December 3, 2012
Service Provider
While the Internet is a great resource to locate information about food,
travel and a number of other things, it isn't necessarily the best place to find
a local service provider.
Sure, you can run the search, get quick results and may even see some fairly impressive websites. The problem is that sometimes, those sites are run by companies that sell the leads to providers who may not be as experienced as you're expecting.
Instead of taking a chance on a total stranger, a personal recommendation could yield you more satisfactory results. Most real estate transactions require some work to be done to the house either in preparation prior to the sale or to meet requirements from the buyer or inspector after the sale is made.
Looking for a service provider on the Internet is easy. Contact me for a recommendation is easier still and you can trust that they'll be reputable and reasonable. I want to be your personal source of real estate information.
Sure, you can run the search, get quick results and may even see some fairly impressive websites. The problem is that sometimes, those sites are run by companies that sell the leads to providers who may not be as experienced as you're expecting.
Instead of taking a chance on a total stranger, a personal recommendation could yield you more satisfactory results. Most real estate transactions require some work to be done to the house either in preparation prior to the sale or to meet requirements from the buyer or inspector after the sale is made.
Looking for a service provider on the Internet is easy. Contact me for a recommendation is easier still and you can trust that they'll be reputable and reasonable. I want to be your personal source of real estate information.
Flood Insurance on Your Home
A number of things can cause water damage to a home and it's important to
know whether they're covered by your insurance policy. Some water damage may be
covered and other may not be. Generally, you need an incident to invoke coverage
rather than something gradual due to lack of maintenance.
However, some incidents are specifically exempt from homeowner policies such as floods. A flood can be described as rising water due to overflow of inland or tidal waters or unusual and rapid accumulation or runoff of surface water from any source.
Homes in designated high-risk flood areas with mortgages from federally regulated or insured lenders are required to have flood insurance.
Even if you don't live in a dedicated flood zone, you could be affected by flood damage. Review your policy about water damage and call your insurance agent to get a better understanding. Ask if you need to purchase additional coverage or separate flood insurance along with other questions.
Flood insurance can be purchased for the building and the contents. The average flood insurance policy costs about $600 per year. For more information, see the National Flood Insurance Program.
However, some incidents are specifically exempt from homeowner policies such as floods. A flood can be described as rising water due to overflow of inland or tidal waters or unusual and rapid accumulation or runoff of surface water from any source.
Homes in designated high-risk flood areas with mortgages from federally regulated or insured lenders are required to have flood insurance.
Even if you don't live in a dedicated flood zone, you could be affected by flood damage. Review your policy about water damage and call your insurance agent to get a better understanding. Ask if you need to purchase additional coverage or separate flood insurance along with other questions.
Flood insurance can be purchased for the building and the contents. The average flood insurance policy costs about $600 per year. For more information, see the National Flood Insurance Program.
The Value of Your Home
Knowing the current value of your home is important when you're considering a
move, refinancing or getting a home equity loan. Prices are determined by recent
sales and the supply and demand of current inventory.
The process of selecting comparable properties involves matching similar features like bedrooms, baths, square footage and updates. In addition to price, there are other factors that affect the value and ultimately, the sale of a home.
Location plays a significant role because by the unique combination of improvements and land. Beneficial considerations would be convenience to schools, shopping, transportation and proximity to freeways. Undesirable concerns could include being in the vicinity of busy streets, high-tension lines, commercial property and other things.
To receive a computerized estimate on the value of your home that includes prices of comparable homes that have sold recently and homes currently for sale, click here.
Value is not totally objective and does require a certain amount of subjective considerations. If you have questions after you receive your report by email, contact us and we'll be happy to talk to you about your concerns.
The process of selecting comparable properties involves matching similar features like bedrooms, baths, square footage and updates. In addition to price, there are other factors that affect the value and ultimately, the sale of a home.
Location plays a significant role because by the unique combination of improvements and land. Beneficial considerations would be convenience to schools, shopping, transportation and proximity to freeways. Undesirable concerns could include being in the vicinity of busy streets, high-tension lines, commercial property and other things.
To receive a computerized estimate on the value of your home that includes prices of comparable homes that have sold recently and homes currently for sale, click here.
Value is not totally objective and does require a certain amount of subjective considerations. If you have questions after you receive your report by email, contact us and we'll be happy to talk to you about your concerns.
Wednesday, November 28, 2012
Owning a Home
Most people agree that homeownership rules! When asked, people say they want
a home they can call their own, to raise their family, share with their friends
and to feel safe and secure. It also accounts for the majority of most people's
net worth.
These rules
can help protect your investment and make homeownership more enjoyable.
These rules
can help protect your investment and make homeownership more enjoyable.- Don't overpay for your home
- Maintain your home's condition
- Minimize your assessed value to lower property taxes
- Make extra principal contributions to save interest and build equity
- Validate the insured value of improvements and contents
- Stay current on surrounding property values
- Make mortgage interest payments deductible
- Invest in capital improvements that increase market value
- Don't over-improve the neighborhood
- Keep records of capital improvements and other maintenance
We want to be your personal source of real estate information and we're
committed to helping from purchase to sale and all the years in between.
Home Worth
What your home is worth depends on why you ask the question. It could be one
value based on a purchase or sale and an entirely different value for insurance
purposes.
Fair market value is the price a buyer and seller can agree upon assuming both are knowledgeable, willing and unpressured by extraordinary events. This value is generally indicated by the comparable market analysis done by real estate professionals.
Insured value is determined for the proper insurance coverage. Replacement cost could actually exceed the cost of new construction when additional expenses are incurred for demolition and the added complexities of matching existing construction.
Homeowners are generally more familiar with their home's market value. Since it can be lower than the replacement cost, owners should review the insured value with their property insurance agents periodically. Under-insuring could invoke a co-insurance clause that may limit the settlement and increase your out of pocket expenses.
Fair market value is the price a buyer and seller can agree upon assuming both are knowledgeable, willing and unpressured by extraordinary events. This value is generally indicated by the comparable market analysis done by real estate professionals.
Insured value is determined for the proper insurance coverage. Replacement cost could actually exceed the cost of new construction when additional expenses are incurred for demolition and the added complexities of matching existing construction.
Homeowners are generally more familiar with their home's market value. Since it can be lower than the replacement cost, owners should review the insured value with their property insurance agents periodically. Under-insuring could invoke a co-insurance clause that may limit the settlement and increase your out of pocket expenses.
Thursday, November 15, 2012
Rent vs. Own- Are You Ready?
The question plaguing every tenant who wants a home of their own is whether
they should continue to rent or is it the right time to buy?
The combination of good prices and low mortgage rates make it considerably cheaper to own than rent in most markets. Assuming a person is qualified with a down payment and won't be moving for several years, there may not be a better time to buy a home.
In the example below, the total house payment is $1,281.01 compared to $1,500 to rent the same home. Before you consider any of the financial benefits attached to home ownership, it's cheaper to own than to rent.
The net cost of housing falls to $764 or just more than half the house payment when you consider the principal reduction due to normal amortization, a modest appreciation and the tax savings along with a reasonable maintenance expense that a tenant would not have to pay.
One of the biggest benefits is the growing equity. As the value goes up, the unpaid balance goes down. A favorable leverage causes their low down payment to grow to $40,609 in a short seven years based on a modest 1% appreciation.
There's an expression often heard in real estate circles: "Whether you rent or buy, you pay for the house you occupy." You're either buying it for yourself or you're helping the landlord buy it.
Check out a Rent vs. Own to see how your numbers will compare to this example or call us to do it for you.
The combination of good prices and low mortgage rates make it considerably cheaper to own than rent in most markets. Assuming a person is qualified with a down payment and won't be moving for several years, there may not be a better time to buy a home.
In the example below, the total house payment is $1,281.01 compared to $1,500 to rent the same home. Before you consider any of the financial benefits attached to home ownership, it's cheaper to own than to rent.
The net cost of housing falls to $764 or just more than half the house payment when you consider the principal reduction due to normal amortization, a modest appreciation and the tax savings along with a reasonable maintenance expense that a tenant would not have to pay.
One of the biggest benefits is the growing equity. As the value goes up, the unpaid balance goes down. A favorable leverage causes their low down payment to grow to $40,609 in a short seven years based on a modest 1% appreciation.
There's an expression often heard in real estate circles: "Whether you rent or buy, you pay for the house you occupy." You're either buying it for yourself or you're helping the landlord buy it.
Check out a Rent vs. Own to see how your numbers will compare to this example or call us to do it for you.
Wednesday, November 14, 2012
Projections On Your Mortgage
FHA loans require mortgage insurance premium to cover a possible loss to the
lender if the property has to be foreclosed and sold. The premium is substantial
and eliminating the MIP would reduce the payment considerably.
The MIP must remain in effect for five years but after that, when the balance is 78% of the original purchase price, FHA will release the requirement and your monthly payment will go down. Since amortization is affected by interest rates, the normal time to reach this 78% point could be from 9 to 12 years at today's interest rates.
In the example below, the MIP would be released in 9 years 6 months with normal payments. An extra $100 a month would allow the borrower to reach the release point in 7 years 1 month. To reach the release point in the minimum five years, the borrower would have to make an extra $268.04 per month principal contribution.
Releasing the MIP in this example would save the borrower $177.67 per month. The borrower would also save interest, build equity and shorten the term of their mortgage. Once the MIP is released, the borrower could continue the same payment schedule to further accelerate the debt reduction.
To make some projections on your mortgage, click here.
The MIP must remain in effect for five years but after that, when the balance is 78% of the original purchase price, FHA will release the requirement and your monthly payment will go down. Since amortization is affected by interest rates, the normal time to reach this 78% point could be from 9 to 12 years at today's interest rates.
In the example below, the MIP would be released in 9 years 6 months with normal payments. An extra $100 a month would allow the borrower to reach the release point in 7 years 1 month. To reach the release point in the minimum five years, the borrower would have to make an extra $268.04 per month principal contribution.
Releasing the MIP in this example would save the borrower $177.67 per month. The borrower would also save interest, build equity and shorten the term of their mortgage. Once the MIP is released, the borrower could continue the same payment schedule to further accelerate the debt reduction.
To make some projections on your mortgage, click here.
Insurance: Why Should We Have It
The purpose of insurance is to shift the risk of loss to a company in
exchange for a premium. Most policies have a deductible which is an amount the
insured pays out of pocket before the insurance starts covering the cost of the
loss.
In the process of managing insurance premiums, policy holders often consider adjusting their deductibles. Lower deductibles mean less money out of pocket if a loss occurs but obviously, results in higher premiums. Higher deductibles result in lower premiums but require that the insured bear a larger amount of the first part of the loss.
A small fire in a $300,000 home that resulted in $2,500 of damage might not be covered because it is less than the 1% deductible. If the homeowner can afford to handle the cost of repairs in exchange for cheaper premiums, it might be worth it. On the other hand, if that loss would be difficult for the homeowner, a change in the deductible could be considered.
It is a good idea to review your deductible with your property insurance agent so that you're familiar with the amount and make any changes that would be appropriate.
In the process of managing insurance premiums, policy holders often consider adjusting their deductibles. Lower deductibles mean less money out of pocket if a loss occurs but obviously, results in higher premiums. Higher deductibles result in lower premiums but require that the insured bear a larger amount of the first part of the loss.
A small fire in a $300,000 home that resulted in $2,500 of damage might not be covered because it is less than the 1% deductible. If the homeowner can afford to handle the cost of repairs in exchange for cheaper premiums, it might be worth it. On the other hand, if that loss would be difficult for the homeowner, a change in the deductible could be considered.
It is a good idea to review your deductible with your property insurance agent so that you're familiar with the amount and make any changes that would be appropriate.
Benefits of Pre-Approval
The benefits of buyer's pre-approval are without question; it is good for the
buyers, the sellers and the agents. It saves time, money and removes the
uncertainty of knowing whether the buyer is qualified. The direct benefits
include:
Even if you have been pre-approved, a suggestion that can't hurt but may help is to get a second opinion from a different lender. It will either verify that you have a good deal or you’ll discover that you can improve it. Either way, it works to your advantage. Contact me if you'd like a recommendation.
- Amount the buyer can borrow decreases as interest rates rise
- Looking at "Right" homes - price, size, amenities, location
- Find the best loan - rate, term, type
- Uncover credit issues early - time to cure possible problems
- Bargaining power - price, terms, & timing
- Close quicker - verifications have been made
Even if you have been pre-approved, a suggestion that can't hurt but may help is to get a second opinion from a different lender. It will either verify that you have a good deal or you’ll discover that you can improve it. Either way, it works to your advantage. Contact me if you'd like a recommendation.
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