Get prequalified as soon as soon as possible. Many times the process of getting prequalified changes the course buyer's are going to take. Unknown credit issues can change the interest rate and ultimately the cost of the loan, which at many times is easily handled when buyer's have 3-6 months to remove unnecessary collections. One example is a cable box that was accidentally packed and not returned from a move 5 years prior. Paying the penalty and removing the report can lower the interest rate saving thousands of dollars over the term of the loan and gives the buyer more buying power without borrowing more money.
*1/8% interest rate increase, equals $12,000 less in buying power
Author:Erin Tudi Phone: (520) 548-5759 Dated: February 21st 2017 Views: 716 About Erin: ...
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I’ve lived in Scottsdale for over 30 years and have seen tremendous growth; north of Thunderbird Road was considered ‘North Scottsdale’. I’ve spent my career in the financial services industry specializing in risk management, specifically operational risk, audit and credit card fraud. I’ve always had a passion for architecture, design and real estate market trends so expanding my part-time real estate investment business was a natural progression. I enjoy helping my clients buy, sell, rent and invest in the Valley of the Sun. I’m excited to be part of Urban Luxe Partners at RE/MAX Platinum Living where providing our clients outstanding customer service is priority #1.