Ernesto Valdez Real Estate Agent - exp Realty

01/09/2023

Boost Your Buying Power: The Benefits of Being Pre-Approved for a Mortgage

If you're in the market for a new home, one of the best things you can do to increase your chances of success is to get pre-approved for a mortgage. Being pre-approved means that a lender has reviewed your financial situation and determined that you are a good candidate for a loan, based on factors such as your credit score, income, and debt-to-income ratio.

Here are a few benefits of being pre-approved for a mortgage when trying to buy a property:

It gives you a better idea of your budget: By getting pre-approved, you'll have a clear understanding of how much you can borrow, which can help you narrow down your search to properties that are within your price range.

It can make you a more competitive buyer: When you make an offer on a property, being pre-approved can make you a more attractive candidate to the seller, as it demonstrates that you are financially prepared to close the deal.

It can speed up the closing process: If you are already pre-approved, the lender has already done much of the work needed to process your loan. This can make the closing process go more smoothly and quickly.

Overall, being pre-approved for a mortgage can give you a significant advantage when trying to buy a property. If you're thinking about making a move, it's definitely worth considering.

11/15/2022

Despite the headwinds of higher mortgage rates and slowing sales, severely limited inventory will keep home prices from declining dramatically in most of the country over the next year.
Learn more from NAR Chief Economist Lawrence Yun’s 2023 outlook. http://ow.ly/jbwE50LBYpk

A pesar de los vientos en contra de las tasas hipotecarias más altas y la desaceleración de las ventas, el inventario seriamente limitado evitará que los precios de las viviendas bajen drásticamente en la mayor parte del país durante el próximo año.
Obtenga más información de la perspectiva para 2023 del economista jefe de la NAR, Lawrence Yun http://ow.ly/jbwE50LBYpk

High inflation, elevated mortgage rates, slowing sales activity, and severely limited housing inventory will prevent large home price drops for most of the U.S. in 2023.