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Conventional Home Loans.
FHA Home Loans.
USDA Home Loans.
VA Home Loans.
There is no limit to the number of times you can refinance. However, you must qualify every time you apply and there will be costs associated with closing the loan each time.
Yes! There are a number of bond programs that offer low or no down payment financing options.
The key to choosing the right mortgage is to understand the range of options and features available to you, as well as your budget, circumstances, and goals. Our licensed mortgage professionals are here to help you navigate that process. The more you know, the more comfortable and confident you will be choosing the best option for you and your family.
The Truth in Lending Act (TILA) does not permit a lender to close a loan until at least seven (7) business days have passed from the date your application was received. A typical home loan takes 30 days, as a number of third-party services such as appraisals, title work, and credit are required in conjunction with the mortgage process. Once you familiarize your Loan Officer with the details of your specific loan scenario, they will be able to provide you with a more specific timeline.
The only way to find out is to speak with a qualified mortgage professional. Our Loan Officers have helped numerous clients who didn’t know if they could qualify to become home owners. We take the time to understand your financial situation and long-term financial goals, and then match you with the loan program that best fits your needs. Your approval for a loan may also largely depend on the price of the home you are financing. Getting pre-qualified prior to beginning your home search can give you an idea of what you may be able to afford.
Homeowners typically refinance to save money, either by obtaining a lower interest rate or by reducing the term of their loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.
This question does not have a simple, one-size-fits-all answer. The exact amount will depend on the price of the home you buy as well the type of mortgage financing you choose. Depending on your loan program, your down payment could be as much as 20% of the home’s price or as little as 3%, while some loans require no down payment at all.
You may still qualify for a home loan even if you have experienced a bankruptcy. The best way to find out if you qualify is to talk with a Loan Officer to discuss your options. Be sure to bring all paperwork regarding your bankruptcy so your Loan Officer can find the program that best fits your situation.
Interest rates fluctuate all day, every day. If an interest rate is good, it may be in your best interest to lock now. If you wait, you run the risk of an increase in rates later. If you are concerned that rates may go down after you lock, contact your Loan Officer to discuss your options. Some programs allow you to lock for an extended period and choose to lower your rate should a better one become available.

The Market Has Shifted and Sellers Who Have Not Noticed Are Going to Pay for It
Buyers have more inventory to choose from right now than they did two years ago. They have more negotiating power. They have less urgency. The conditions that produced fast sales and competitive offers have been replaced by a market where buyers take their time and pass on listings that do not make sense at the asking price.
Chris Barnes works on the financing side of transactions and sees what happens downstream when sellers get the pricing decision wrong. The conversation worth having is before the listing goes live not weeks later after the market has already delivered its verdict.
Why Overpriced Listings Produce Worse Outcomes Than Sellers Expect
The reference point most sellers rely on is the wrong one. What the neighbor received two years ago. What an online estimate showed last spring. Neither of those reflects the market that exists today and pricing based on either produces a predictable and costly outcome.
A listing that comes to market above where buyers are willing to engage simply gets ignored. The most motivated buyers are watching closely in the first two weeks of any listing and they move quickly when something is priced right. Price above the market and those buyers move on without scheduling a showing.
Days on market accumulate. Once a listing has been sitting buyers begin to assume something is wrong with the property rather than the price. That assumption is sticky and difficult to overcome regardless of subsequent price adjustments. The seller who eventually cuts the price does so from a position of visible weakness with buyers who have watched the listing sit and now expect even more flexibility on top of the reduction. The net result is almost always worse than correct day-one pricing would have produced.
Three Things That Actually Work Right Now
Price it correctly from the first day. A well-priced listing generates activity and activity generates offers. The goal is not to leave room to negotiate down from a high starting point. The goal is to be the listing that motivated buyers act on immediately.
Think beyond the price cut when flexibility is needed. A seller credit toward the buyer’s closing costs or a seller-funded rate buydown often does more for the buyer’s actual monthly payment than an equivalent price reduction and it keeps the recorded sale price higher. The math produces different outcomes and understanding the comparison before deciding on an approach saves money for sellers who make the decision with the full picture.
Chris Barnes can show the numbers on what a buydown does to a buyer’s payment versus a price drop side by side. That comparison changes the conversation for listings that are not moving and it is worth having before the next price reduction is made.
Know your local market not the national headlines. National housing data describes average conditions across dramatically different markets and does not tell you what a buyer looking at your specific property in your specific neighborhood today is willing to pay. Local inventory levels and days on market do.
The Conversation That Saves Deals
If you are selling or you are an agent with a listing that has been sitting message Chris Barnes. He will run the numbers on the buydown versus price drop comparison so the strategy decision is based on actual figures rather than assumptions.
Sources
NAR.realtor
MortgageNewsDaily.com
ConsumerFinancialProtectionBureau.gov
FannieMae.com
Investopedia.com
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