Forbes.com posted a really interesting article about the top three things that can go wrong for a buyer (read it here). The author estimates that about 1/3rd of all real estate transactions never close. There are three major reasons why your home could never close:
The first, and most relevant to me, is your financing. So, you have the house, you agree on a price, everyone signs… and then your loan falls through! Since 2008, it has become more difficult to qualify for a loan because of stricter lending restrictions. One way to avoid this disaster is through pre-approval – while not a guarantee that you will get financing, but it certainly helps.
Once you have applied for a loan, small changes in your income, or in interest rates, can disqualify you.
Incorrect appraisals and buyer’s remorse are also big contenders in the list of What Can Go Wrong. But with Watermark Home Loans, you know your financing will not be an issue. From the get-go, we’ll prequalify you before you make an offer on a new home. We’ll walk you through the process and keep you aware of any changes or documents you might need. We handle all our own loans, so there is no mystery to our process. We’re accessible and our main goal is to get you the loan that works best for you.
With me as your mortgage banker, your loan has a better chance of closing smoothly.
