Move Ahead by getting back to basics:
While the mortgage industry has been faced with extraordinary events in recent times, the good news is, in moving ahead, the path has become pretty straight forward. How does it affect you? That all depends on whether you're looking to purchase or sell and how soon you want to act.
If you're in the market for a home now you should know that:
Now is the time to buy, as home prices have decreased. There are still plenty of financing options available - though not as many as a few years back. You should be able and willings to verify income and have a decent credit history. If you do not have 20% toward a down payment, it's still possible to finance a mortgage. Using mortgage insurance, you can finance with less than 20% down and purchase now, rather than later.
If you're still in the thinking stage, we encourage you to:
Make sure you're as ready as possible; namely, make sure your credit is the best it can be. Find out what your credit score is and, if need be, improve it. Sellers, know that there are buyers out there. But be realistic with your expectations. You need to set a fair price, based on today's values, not yesterday's.
Now is the time to be working with true professionals - that if there is any lesson to be learned in all that the housing market is going through, it's to seek quality - Keller Williams and Eileen Duff are here to help and advise you through the entire process!
