Are You Prepared to Win the Bid ?
By Sherry Brady , Branch Manager , Apex Home Loans , Inc .
Homebuyers be ready ! We are still in an extremely competitive market where homes are flying off the market as soon as they hit , AND now rates are going up ! You need to prepare yourself and be ready to make your offer when the right house comes along , because you may literally only have hours to act ! And as rates rise , your buying power decreases , so you want to find something sooner rather than later !
You need to meet with a lender to find out what your options are , and you need to get preapproved . II can not stree the importance of that enough . It ’ s a seller ’ s market right now . There are more people looking for a home than there are good quality homes available . You need to be ready to move forward quickly when you see “ the one ” you love .
Getting preapproved is a quick and painless process and can be done in minutes ! When you meet with us , we ’ ll discuss all the loan types available and determine which ones you qualify for based on your credit and income . We ’ ll figure out how much home you can buy , what your monthly payment will be , whether you ’ ll have to make a down payment , what the closing costs are . Once we finish our first conversation , you ’ ll know the answers to these questions and will be able to shop for your home with confidence , and less stress !
It ’ s highly recommended that you get preapproved before you even go to look at the first house , because once you open that door and start looking at homes , you never know at what point your dream home is going to find you . You could look for months , or it could be the very first house you walk into that turns out to be “ the one ”. Once that happens , you ’ re going to want to put an offer in on the home as soon as possible so that you don ’ t risk losing it . That ’ s when you Realtor ® is going to ask for the letter saying you ’ re pre-approved for a mortgage loan - if they haven ’ t already asked . Inventory is very tight right now , and good homes are selling the same day they hit the market in many cases . You need to be ready !
Having a pre-approval letter to accompany your offer tells both your Realtor and the seller of the home you want to buy that you are serious and capable : not only do you want to buy their home , but you have the financial ability to do so . And by getting pre-approved , we can begin your loan approval process early so that once you find the home you love you ’ ll be able to close quickly ! In today ’ s market , that will go a long way toward making you an extremely attractive buyer .
Interest rates are at all time lows . Inventory is tight . Be prepared to win your dream home !!
Ready to get preapproved ? The experienced team at Apex Home Loans are experts in home finance , and are ready to guide you professionally , ethically , and flawlessly on the path to home ownership ! We are available evenings and weekends - we are here when you need us . Call us at 434-237-1027 , or go online to
www . LynchburgLender . com today , and let us help you GET MOVING !
Sherry Brady , Branch Manager / Sr Mortgage Banker , NMLS # 217258 ; Apex Home Loans Inc ., NMLS # 2884 ; nmlsconsumeraccess . org , Equal Housing Opportunity .