Tagged : Mortgage Pre-approval

Found 4 blog entries tagged as "Mortgage Pre-approval".

Successful real estate agents are like airline pilots or orchestra conductors. We're ultimately responsible for the success or failure of the transaction--- but we don't do it by ourselves. We rely on a network of other professionals: escrow officers; inspectors; contractors; transaction coordinators, and many others. We coordinate their efforts, but we cannot achieve success without them. One of the most critical pieces in assembling the picture-puzzle that will be the buyer's new home is the Mortgage Broker or Loan Officer, who can literally make or break the transaction. The best lending professionals conduct a thorough review of the buyer's qualifications and assets prior to issuing a pre-approval letter. They don't just take a snapshot, give…
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Yes, it can be done! There seem to be a throng of buyers laden with cash from selling their homes, cashing out their high-tech stock options, family money, and the list goes on. There is no question that they have an advantage. They're not subject to appraisals and underwriting standards while you are, because you need a loan. If you're up against someone with a lot of money who just loves the home, it's probably time to move on, but barring that, give it a try. Cash buyers are not invincible. There are definite steps that can be taken to level the playing field.

First, it's important to understand what sellers and their agents are looking for. It boils down to just a few things: A good price; the terms the Sellers want (more on this later); a

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The terms pre-qualified and pre-approved sound pretty interchangeable. In fact, there is a huge difference, which I promise to explain! But, before I get into that, let me address a more basic question. "What is a pre-approval and why do I need one?"

Here in Marin County, our real estate market, though active, has experienced a severe shortage of inventory for quite some time now. A recent check revealed slightly over a one month supply of homes for sale, while 4-5 months is considered healthy by many agents and analysts. One important cause of this shortage is the perception by potential sellers that prices are still too low for them to sell. With recent appreciation in the market, this is not necessarily the case, but it will take a while for

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A pre-approval is one of the most important ingredients in the home-buyers' recipe book here in Marin.  Sellers and  Listing Agents want to see a current pre-approval letter with every offer they receive.  Many, if not the majority of properties currently on the market will receive multiple offers, and almost all of those offers will have pre-approval letters attached. Offers without a pre-approval go to the bottom of the pile. A pre-approval usually states that the lender, or mortgage broker has reviewed financial history, income, tax returns, verified pay, etc. Often, the lender has also had an underwriter review the file, and is in a position to state that loan approval is subject only to appraisal and certain other conditions. This

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