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I love boasting the confidence of First Time, East Tn Home Buyers! When it comes to Homes For Sale in The Smokies, buying your first home can seem overwhelming. Thankfully, there’s a lot of great information out there to help you feel more confident as you learn about the process. For those in younger generations who aspire to buy a Home in the Smokies, here are three things to consider sooner rather than later in your journey: 1. Understand What it Takes to Purchase a Home in Tennessee Overall, Millennials (24 - 39) make up the largest group of real estate homebuyers in today’s real estate market, and Gen Z (7-23) is not too far behind. A recent study shared by Freddie Mac shows, however, that Generation Z isn’t as confident in the homebuying process as Millennials. The best thing potential young buyers can do is understand what it takes to buy a home. Learn as much as you can about the mortgage process , down payment ...
Underwriter or Gravedigger? That is the question!
Preapproval letters aren't promises of loan approval...Only warning of the lender digging deeper after the loan application submission! After my years in the real estate industry, I've heard some really "almost" convincing stories from buyers when their loan application has been denied by their selected lender. They just can't understand why they were denied! Folks, listen and hear me well; 💀ALL skeletons are dragged out of the closet during a home mortgage underwriting process! You can not and will not hide all the negative, 👹 👻 😈 ugly monsters that are part of your financial persona. It simply can't happen! The days of lenders using ONLY the information you deem necessary are GONE! Hopefully forever too! That is one of the greatest contributions to the mortgage meltdown we just lived through, and are still recovering from. NO STATED ANYTHING, ANYMORE! If it's not on paper, it never happened and doesn't exist! On the f...
8 Secrets to Buying a Home Out of State, Without the Risk of Remorse Buying real estate is stressful mortgages, down payments, and lenders, Oh My! ________________________________________________________ Buying a home out of state? That transaction can be really scary for someone that is putting the fate of a life changing decision in someone else's hands. You can probably guess why: You won't have the luxury of being able to spend hours touring home listings. You can't pop by to see the neighborhood at anytime convenient to you. You very likely have no idea how hellish the daily commute for your new job really will be. Understandably, you might feel that you're rolling the dice on a new home or even your first home—and may fear buyer's remorse in the end. But with Michele Bryan ( Me! ) on your team you can make a purchase with no regrets. I know this because I have sold several homes to buyers in another s...
A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainty 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 to have saved for a down payment ( 73% of all buyers made a down payment of less than 20%, 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, all of whom 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 you follow: 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...