This year is the year to finally buy that Farragut home you’ve been thinking about. Mortgage rates are still low and housing prices are slowly rising. And, 2013 is expected to be a big year for the real estate market. So, if you’ve been on the fence about buying a Farragut home, here are a few mortgage tips to make buying a home possible this year.
Most importantly, stop procrastinating. If you’re serious about buying a Farragut home this year, its time to get up and get the process started. Before starting your home search, talk with a loan officer about getting pre-approved or pre-qualified. By getting pre-approved or pre-qualified, you will make you Farragut home search easier. It will help you determine how much home you can afford, which will help you narrow down your Farragut home search.
In addition, you will want to make sure your credit is where you want it to be. Mortgage underwriting is still expected to be tight in 2013, and credit is a very important aspect of the approval process. If you’re concerned about where you credit may be, consider meeting with a loan officer to see if there are any potential issues. That way, if there is something that needs to be cleared up before you start shopping for a Farragut home.
Finally, do you homework and find a lender that can offer you what you need and along with the support and customer service you deserve. Friends and family members can offer good referrals, but also consider asking someone in the business. Ultimately, choose whoever you feel most comfortable with and who offers you the best deal. Another important thing to consider is choosing a lender who has a reputation of closing on time. With stricter guidelines, some lenders struggle to meet closing deadlines, and if you’re under a crunch to get closed by a certain date, this will definitely be an important factor in choosing a lender for your Farragut home search.
Are you thinking about buying a Farragut home this year? If there is anyway Knoxville Home Team can assist you, please let us know, you can give Rick at call at 865-696-9002 or send an email to [email protected]. Kati can be contacted at 865-392-5880 or via email at [email protected].