If you’re thinking about buying a home, there is a lot to do to get prepared. Studies show buyers are researching 12-18 months in advance of purchasing. With this much lead time, we often get the question … “When should I get pre-approved?” We advise our clients to use an experienced lender as a resource […]
Why Interest Rate Quoted During Pre-Approval Doesn’t Matter
When most people shop for a home loan, they lead with “please send me your rates” rather than interviewing the mortgage broker or loan officer to see what they’re going to do to work for them. What they don’t understand is the mortgage interest rate quoted during the pre-approval process before you have a signed […]
4 Misconceptions About Appraisals
One of the more puzzling pieces of the real estate process is actually part of the financing process: appraisals. Appraisals are without a doubt confusing, yet they are a key part of the mortgage loan underwriting process. As a home buyer, it’s important to have a basic understanding of their purpose and how they can […]
How to Choose a Lender When Buying a Home
The best practice for choosing a lender when buying a home in Austin is a bit counterintuitive. Most buyers start their search by checking mortgage rates at different banks or lending institutions and choose the lender who posts the best rates online. Though rates are a piece of the puzzle (and a large piece considering […]
9 Must Ask Questions 95% of Condo Buyers Don’t Know
Buying a condo requires an extra measure of due diligence. Far more complex than buying a single family home, buying a condo means you are buying two entities: (1) the unit you’re going to live in and (2) membership in the mandatory Homeowner’s Association (HOA). The faster you can identify potential deal killers with the […]
Will an Early Mortgage Pre-Approval Hurt My Credit Score
Many Austin home buyers are afraid of getting pre-approved for a mortgage loan too early for fear it will hurt their credit score. Are these fears unfounded? The short answer is yes. Getting Pre-Approved Does Not Hurt Your Credit Score Getting pre-approved should be the first step in the home buying process and should come […]
Guide to Buying a Home in Austin
We’ve had several requests for a comprehensive guide to home buying. Though our Austin Home Buyer Blog is packed full of home buyer tips, there is no step by step guide. To help Austin home buyers looking for some guidance, we’re pleased to introduce our Austin Home Buyer’s Guide. What Can You Expect to Learn […]
You Don’t Need 20% Down to Buy a House Anymore
Lending rules have eased up again. You won’t hear too much in the media, because honestly I don’t think they want to draw attention to another “mortgage meltdown” brewing. Lenders aren’t handing out money as easily as they were pre-mortgage meltdown, but they are making it easier for buyers to buy homes. Loans Where You […]
It Takes Time to Make a Thing Go Right
As the song goes, “it takes two to make a thing go right” but when buying real estate, it takes time (and preparation) to make buying a home go right. What can you do to prepare to purchase a home in Austin? Give Yourself Adequate Lead Time Allocate sufficient lead time to work through the […]
5 Obstacles That Could Derail Your Refinance
Home refinances are easy, quick and every homeowner’s answer to their financial woes, or so say the re-fi commercials and advertisements. Not so fast my friends, here as Paul Harvey used to say is “the rest of the story.” Austin home re-fi’s are not easy, quick or necessarily a sure thing. There are potential pitfalls. […]
