Becoming a homeowner continues to make up the so-called American dream, and the current mortgage market offers buyers high affordability with low prices and record-low mortgage rates.
It is important to keep finances in mind when considering purchasing a home, and the affordable market is perfect for first-time buyers. Recently, the housing market has seen more activity meaning more people are investing in the dream of owning a home.
When looking for a mortgage, I would suggest shopping around before making a decision. and it is acceptable to seek pre-qualification which will give buyers a better estimate on a loan amount they will likely be offered from lenders before deciding on an actual home.
It is still a buyer’s market. Homeowners should acknowledge there is competition. Having a jumpstart on paperwork such as being pre-qualified or pre-approved will help sellers know that the homeowner is serious about buying and it can also speed up the closing process.