
hen you’re shopping for a new home, there are a lot of steps in what can be an overwhelming and frustrating process. Much of that frustration comes from getting mortgage financing. Before you start to look for a home, you might decide to get pre-qualified or pre-approved. There’s also the option to go through pre-underwriting. When the housing market remains competitive and bidding wars are common, there are some benefits to pre-underwriting, which we detail below.
read moreIf you’ve ever gone online to check out the value of your home or to make comparisons, you aren’t alone. Online home value estimators can be a handy tool in some cases, but you have to understand their limitations. Zillow’s Zestimate is perhaps the most well-known estimator, but Redfin has one too. Below, we talk about what you should know about home valuation tools, also known as automated valuation models or AVM.
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“All cash, seven-day close.” Those words are a dream for a home seller and a real estate agent, but while they may be thrown around on shows like Million Dollar Listing to entice a buyer to accept a $28 million offer on a $30 million list price, how realistic is it to close so quickly in the real world? Not very, it turns out. Yes, an all-cash offer can greatly speed up closing (and, even then, seven days is rare). But for the 75% or so of buyers who finance their home purchase, “42” is the magic number.
read moreSometimes when people decide they’re ready to buy a home, they pretty much just dive right in. While that generally works out okay, that might also create a few speed bumps in your path. But to lower or even eliminate those speed bumps, there are some things you can do ahead of time. Here are some ‘pre-game’ tips for you.
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"The 30-year fixed-rate mortgage averaged 6.66% this week. The housing market continues to benefit from more available inventory, providing prospective homebuyers with additional options and helping support buyer activity as mortgage rates fluctuate."
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