Sell my House in Columbus | Taking Fear Out of the Mortgage Process

20181031-Share-STM.jpg

It is important to be ready on taking financial responsibilities of becoming a homeowner.

At Ficzner Group, we want to be prepared to ensure that you are given the best buying experience with knowledge and expertise to guide you along the way.  We are here to guide you on purchasing a brand new home in Columbus.

Today I would like to talk to you about Sell my House in Columbus | Taking Fear Out of the Mortgage Process

A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainties about the buying process. A specific cause for concern tends to be mortgage qualification.

For many, the mortgage process can be scary, but it doesn’t have to be!

In order to qualify in today’s market, you’ll need a down payment (the average down payment on all loans last year was 5%, with many buyers putting down 3% or less), a stable income, and good credit history.

Throughout the entire home buying process, you will interact with many different professionals who will all perform necessary roles. These professionals are also valuable resources for you.

Once you’re ready to apply, here are 5 easy steps that Freddie Mac suggests to follow:

  1. Find out your current credit history & score – even if you don’t have perfect credit, you may already qualify for a loan. The average FICO Score® of all closed loans in September was 731, according to Ellie Mae.

  2. Start gathering all of your documentation – income verification (such as W-2 forms or tax returns), credit history, and assets (such as bank statements to verify your savings).

  3. Contact a professional – your real estate agent will be able to recommend a loan officer who can help you develop a spending plan, as well as help you determine how much home you can afford.

  4. Consult with your lender – he or she will review your income, expenses, and financial goals in order to determine the type and amount of mortgage you qualify for.

  5. Talk to your lender about pre-approval – a pre-approval letter provides an estimate of what you might be able to borrow (provided your financial status doesn’t change) and demonstrates to home sellers that you are serious about buying!

Bottom Line

Do your research, reach out to professionals, stick to your budget, and be sure that you are ready to take on the financial responsibilities of becoming a homeowner.

Source.. KCM Mike Ficzner Blog

The Ficzner Group is a technology-driven local real estate company that serves the Lake, Geauga & Cuyahoga County areas. Our sales team of Zillow Premier Agents use advanced search technologies that make searching the web seamless and marketing your home instant within the Zillow & Trulia Marketplace.   

To connect with us directly, 

Please call Mike at 440-305-6349

Or via email:  REALESTATE@FICZNER.COM

Visit us at www.ficzner.com- Call or text 440-305-6349 for more information

Search for the new listings in Columbus by Map

(Click the map on the right)