Mortgage Pre-approval Today – Buy This Summer
While COVID-19 keeps everyone quarantined in their homes, buying a home has become very difficult. The market is still very tight. There are less available homes than buyers and rates are at historic lows. However, open houses and home tours are put on hold right now. It’s tough to find a way to buy a house. However, that doesn’t mean that you shouldn’t get a mortgage pre-approval right now if you’re going to be ready to buy this summer.
The traditional home-selling season is in the spring. Homes sell while kids are ending their school
year so they can move in the summer.
However, these plans, and really the entire season are out the window.
Getting a mortgage pre-approval right now can get you ready to buy when the markets are back open.
When you are pre-approved, that can cover you for 30-60 days, depending on your situation. This means you will be able to walk into the first open house after the lockdown and put down an offer on a home while the other buyers are still trying to get their paperwork in.
A mortgage pre-approval is the best way to prepare yourself for the home-buying season. Homebuyers can find out exactly how much home they can afford while helping narrow the field of homes that they look at.
With interest rates near all-time lows, the home that you
thought you couldn’t buy last year can now be in your price range.
You can afford more house because lower rates will make your
house payment smaller. You can also use
the lower rates with a shorter mortgage term, paying off your home in 15 years
instead of 30. We can also build a
custom term for your loan if 15 or 30 doesn’t work for you.
Buying a home with a conventional, FHA, Jumbo, VA, USDA or Bank Statement Mortgage right now is going to be difficult, because you can’t get inside, and you need to practice social distancing. However, getting a mortgage pre-approval will put you ahead of the rest of the crowd when you’re ready to buy.
Call The Home Loan Expert Team in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515, and Nashville at (615) 810-8555. You can always apply online with our 5-Minute Loan Approval at hero.loan for your VA Loan, and www.thehomeloanexpert.com for your other mortgage needs, and we’re also open on Saturdays and will come to you to help close your loan. We work hard to make it easy on you. Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?
Original Article Posted at : https://thehomeloanexpert.com/mortgage-pre-approval-today-buy-this-summer/