Right now, there are not a lot of houses for sale, as inventory and new home construction continue to lag behind buyer demand. In addition, low mortgage rates are accelerating demand, meaning that in many situations the sellers are receiving multiple offers. Therefore, it is important for potential buyers to do everything they can to win a bidding war. What are a few ways buyers can give themselves an advantage? Get Pre-Approved For A Home Loan The first thing interested buyers need to do is to get pre-approved for a home loan. Because many sellers have options, they might be more willing to take a cash offer because they know the money is going to be there. In order for potential buyers to … [Read more...]
4 Ways COVID-19 Has Had An Impact On The Home Lending Process
The COVID-19 pandemic has impacted everyone and this includes the real estate industry. One of the biggest impacts that this pandemic has had involves the home lending process. Because many people are looking for ways to buy a home while engaging in proper social distancing measures, the industry has had to adapt. Learn more about some of the changes the COVID-19 pandemic has forced on the home lending process. Homes Are Getting More Affordable The demand for homes right now is high; however, homes are still more affordable than they have been in the past. Lenders are trying to find ways to encourage people to purchase homes because they have seen a drop in their business as well. As a … [Read more...]
