Our Website

Click here to go HOME www.nycteamrealty.com

Tuesday, April 24, 2018

Queens, NY Real Estate | Getting Pre-Approved Should Always Be Your First Step

Queens, NY Real EstateGetting Pre-Approved Should Always Be Your First Step





Buying My House in Queens NY | Getting Pre-Approved Should Always Be Your First Step

Queens County NY Real Estate Search homes for sale and MLS listings in Queens County, New York. Local information: 3025 houses for sale, 1037 condos, 0 foreclosure listings. Compare schools, property values, and mortgage rates.

Our topic today Buying My House in Queens NY VA Loans by the Numbers

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.
Even if you are in a market that is not as competitive, understanding your budget will give you the confidence of knowing if your dream home is within your reach.
Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:
“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”
One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”
Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:
  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time
Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so.

Some Highlights:

  • Since the creation of the VA Home Loans Program, 22 million veterans have been able to achieve the American Dream of homeownership.
  • In 2017, $188 billion was loaned to veterans and their families through the program.
  • VA Purchase Loans are on the rise in 46 out of 50 states and Washington, DC.

.Source... KCM RossMery Blog http://nyhomesforsale.blog/

Click here to check Our Blog en Español

To protect your interest, it is necessary that you have a knowledgeable agent working for you. Who is an expert in the local market and ensure that you make the best possible decisions?

We all are dedicated to keeping you on top of our local market. 

To reach us, please call/ text 917-515-9783

Or email us nyhomeseller@gmail.com

Search for the newest listings in Queens NY by map (click picture below)



Thinking of selling your home? 
Or call/Text 917-515-9783 For More Information.


====== ===============
HOMES VALUES ARE UP! GET YOUR HOME VALUE NOW!
SEARCH ALL HOMES FOR SALE
HOME VALUATION
GET AN OFFER IN 24 HOURS
MARKET REPORT
SELLER EGUIDE
RossMery Mosquera
Winzone Realty
917-515-9783
Contact Me

You Can Also Visit Us At:     

No comments:

Post a Comment