- Are both fixed-rate and adjustable mortgage loans available?
- What is the interest rate?
- How long can I "lock-in" the financing at the current interest rate?
- Is a float down lock available in case rates drop after I have locked in?
- What are the other fees a lender may charge me in conjunction with my loan?
- Are funds for a second mortgage available?
For Buyers: Improve Your Chances
With inventory diminishing daily and multiple offers being extremely common, it is of great importance that you position yourself to have the "Best Chance" to get your offer accepted. You enhance your chance of getting the home of your choice by doing the following:
- Get pre-approved for the purchase:
This takes very little time and is of great value. At this time, identify the price range for which you qualify and which fits your lifestyle.
- Submit a strong competitive offer:
Submit the offer as if there will be multiple offers.
- Include substantial earnest money deposit:
Acceptance of an offer is sometimes determined by the amount of the deposit. A larger amount may signify a bigger commitment to the seller.
- Minimize or eliminate contingencies:
The fewer contingencies, the stronger the offer.
- Make a buyer profile available:
Time on the job, flexibility, reason for purchasing seller's home, etc.
- Be prepared to preview a new property quickly:
Homes sell sometimes in hours. Be prepared to make decisions quickly and be accessible to change the terms instantly.
- Buyer and agent to have instant communication access:
Let us maintain instant access to each other via office phone, voice mail, fax, pager or cellular phone.