
Getting pre-approved for a mortgage is the first step of the home buying process.
Getting a pre-approval letter from a lender get the ball rolling in the right direction.
Under normal market conditions, the average time to complete the sale of a home is 30 to 45 days.
Though, well-prepared home buyers have been known to purchase properties faster than the averages.
Most loan programs require a FICO score of 620 or better. Borrowers with higher credit scores represent less risk to the lender, often resulting in a lower the down payment requirement and better interest rate. Conversely, home shoppers with lower credit scores may need to bring more money to the table (or accept a higher interest rate) to offset the lender’s risk.
That’s up to you! For sure, home shopping today is easier today than ever before. The ability to search for homes online and see pictures, even before setting a foot outside the comfort of your living room, has completely changed the home buying game. Convenience is at an all-time high. But, nothing beats visiting a home to see how it looks and ‘feels’ in person.