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4 Tips From A Navarre Mortgage Broker On Buying A House

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Back in the day homebuyers could speak with a Navarre Mortgage Broker, shop a variety of properties in their price range, mull over their choices, and make an offer. How things have changed!

In today’s hot seller’s market, scads of desperate house hunters scramble for limited inventory, paying sky-high prices to beat out other bidders.

To keep you up with the times, we pressed real estate agents and brokers to divulge the kind of intel required to find and lock down a good deal right now!

Give our mortgage experts a call today to get started on your home-buying journey! (850) 936-0422

1. Look A Little Lower

Fixer-upper, anyone? How about a new and growing neighborhood? There’s no need to give up your wish list entirely, but in today’s market you’ve got to be realistic.

Move-in ready homes with modern finishes sell first, so look at a slightly lower price point! This way, you get a better deal and can use the extra money to renovate.

2. Up Your Earnest Money

Next, cash offers may be king to most sellers, but it isn’t feasible for a majority of home shoppers. Still, you can make a financed deal more attractive with your earnest money, the 1% – 3% typically put down after an offer is accepted.

Yes, this means the seller gets to keep that money if the deal falls apart for any reason at any time. However, it makes a buyer look a lot more committed to doing whatever it takes!

If you have found a house that is perfect to you, this tactic can give you the edge. Get Pre-Approved with our Navarre Mortgage Broker! (850) 936-0422

3. Obtain An Approval Letter

Yes, you got pre-approved for a mortgage, but go the extra mile! Different from the traditional pre-approval, an approval letter (or commitment letter) can be prepared by the lender once your loan application is approved. It typically states the type of loan, the amount, the terms, and the interest rate.

This lets the seller know that the lender has gone beyond pulling your credit. This kind of document can give you an advantage because the home seller has less to worry about, such as your application going into underwriting and unraveling!

4. Work With The Best Broker

Finally, it is more important than ever for buyers to shop around for an expert broker. You want to talk to a few to get a feel of them, and don’t simply take recommendations blindly!

You should ask about their experience with home loans, contingency waivers, and escalation situations and what the outcomes have been. You will also need someone who will be available to you!

Trust In Our Experts

Buying a home is exciting and, let’s face it, complicated.

Get your own personal consultation with one of our experienced loan officers. We are here to guide you through the entire home-buying process, from start to finish!

Contact a professional Navarre Mortgage Broker today to get started. (850) 936-0422