buyorsellwithjenandbob: October 2008

The upcoming presidential election is very personal to just about everyone who resides in the United States.

TRUE or FALSE?

I ran across several blogs tonight about the election and debate and wondered, is it risky to blog about your political affiliation and opinions as a realtor? 

What do you think? 

We've heard this question one too many times the past month and are amazed at the number of people who have no idea what is going on in the lending world or where to get information about mortgages.  We are hearing from lots of folks who want to sell their homes and take advantage of this market or buy that Florida vacation home, but fear they can't secure a mortgage. 

If you do not know of a mortgage brokers or bankers, stop by your local bank and inquire within or ask a friend or family member for a referral to a lender.  Despite all the changes in the lending world the past year, there are lots of products available. 

Here are a few facts that are as easy 1.2.3.:

1.  YES, YOU CAN STILL GET A MORTGAGE!Interest rates are fabulous and prices are even better. Why wait and risk losing a good rate?  Or, why wait and risk losing the house you really want at a great price?

2.  YES, LENDERS ARE BEING STRICT ABOUT WRITING MORTGAGES. CONSIDERING WHAT IS GOING ON IN THE LENDING WORLD THEY SHOULD BE IT IS AFFECTING ALL OF US. Just because you walk, talk and breath doesn't mean you'll qualify though. 

3.  YES, CREDIT SCORES AND PAYMENT HISTORIES WILL BE A FACTOR IN QUALIFYING FOR A MORTGAGE.  RESEARCH YOUR CREDIT AND CLEAN UP YOUR REPORT IF NECESSARY BEFORE APPYLING FOR A MORTGAGE. 

4.  SECURING FINANCING BEFORE HOUSE HUNTING IS A MUST IN THIS MARKET! Don't waste your time and frustrate yourself by finding the perfect home before having a plan to pay for it.  Most sellers are skiddish about buyers and the risk of working with an unqualified buyer.

5.  MANY MORTGAGE PRODUCTS ARE AVAILABLE. Some mortgage lenders have products that require very little down payment.  And, some have downpayment assistant programs available depending on your financial or employment situation.

Just like anything else, if you're not sure just ask.  Most lenders will assist you with no obligation.