For many, the homebuying journey often starts with getting pre-approved for a mortgage. Once approved, a buyer has a mortgage can enter the real estate market with a budget in hand.
Identifying key signs can help you decide if it’s the right time to secure a mortgage loan.
If you're tired of paying rent, purchasing a property offers a viable alternative. With a mortgage in hand, you can budget out for the purchase of a home and get a better idea of the type of home you can afford.
Having a good credit score is fundamental in regard to applying for a mortgage loan as it demonstrates your credit history. A good credit score improves your chances of being approved and can even open the door to more benefits such as lower interest rates.
If you feel your score may need to be improved before applying for a mortgage, consider taking steps such as cutting down debt or getting added as an authorized user to a credit account.
In a buyer's market, there’s typically an abundance of desirable homes and a shortage of buyers. This means a homebuyer may be able to negotiate with more options to purchase a home they desire for a great deal.
By reviewing this housing market data, you can differentiate a buyer's market from a seller's market and determine whether it’s the ideal time for you to apply for a mortgage. You can do so by searching your local MLS for listing information in the area you wish to purchase a home.
By acknowledging your housing goals, financial standing and doing real estate market research, you can determine if now is the right time for you to apply for a mortgage loan.
Kate Hogan – Amherst MA Realtor ® and Pioneer Valley
Your number one source for Real Estate in Amherst, MA, and surrounding towns!
Kate Hogan, a 20-year resident of Amherst and Top Producer at Brick & Mortar realty, has that unique combination of qualities you need in an agent: a big picture view of the entire Five College area, towns, and neighborhoods, a high standard of professionalism, and an innate talent for understanding homes. All of that, plus this savvy agent is known for being experienced, knowledgeable, and a lot of fun to work with. As a full-time real estate professional, Kate’s approach is focused on getting to know her clients as real people and taking care of them from beginning to end.
