Category: News

There are a few primary factors in getting qualified for a loan, today we’ll talk about one, that you might be able to easily update – the credit score. Here are a few tips to make sure your score is accurate and possibly improve it. Before getting started you’ll obviously need to know your credit score and you can order a free report from one of the big 3 or get a merged credit report. 1. Avoid late and missed payments – this is a big one. If you have trouble keeping track and paying bills consider setting up automatic payments because late payments can be an easily avoidable ding on your score. 2. Make Sure Balances aren’t too high. If you are carrying balances of more than 30% of…

Forget earlier this year when we saw new home sales actually drop. New home sales for March went up... a lot, up more than 20% in March compared to February, according to data provided by HUD. In fact it wasn’t just a monthly increase but March saw the strongest new home sales in over 14 years! Not since September 2006 have new home sales been at a faster clip. A combination of low interest rates and high demand look to fuel new home growth for the foreseeable future. The biggest obstacle to new home construction now is a surge in lumber prices which is adding on over $35,000 to the cost of average new single family home according to the National Association of Home Builders. Overall new home sales growth…

The housing market has extremely tight inventory and as a result there are often multiple bids on a home. If you find yourself competing with multiple bidders, here are some tips to come out on top and win a bidding war. Preapproval Letter Have a preapproval letter. A preapproval letter shows you are serious and there won’t be trouble getting a mortgage. Without this other bidders will be in a much stronger position. Make A Higher Offer Before doing this, make sure you stay within your budget, but a higher offer is (as common sense dictates) often a key to a winning bid. Your real estate agent can be helpful here to get an idea of how many bids are coming in as well as current market prices in the…