The
fall Boston real
estate market is here and we still have a lot of buyers compared to
the number of homes currently on the market.
This shortage of homes has led to a competitive marketplace where Boston home
buyers often need to stand out. To stand out among the
competition and to show you are a serious Boston home
buyer it is a must to be pre-approved for a mortgage before
starting your search. A pre-approval also brings with it the advantage of
knowing your budget before you look so you don’t fall in love with a home you
cannot afford.
One
of the many advantages of working with a Boston
real estate professional is that we have relationships with
lenders who can to help you with this process. Once you have selected a lender,
you will need to fill out their loan application and provide them with
important information regarding your financial standing.
Freddie Mac describes
the 4 Cs that help determine the amount you
will be qualified to borrow:
- Capacity: Your current and future ability to make your payments
- Capital or cash reserves: The money, savings and investments you have that can be sold quickly for cash
- Collateral: The home, or type of home, that you would like to purchase
- Credit: Your history of paying bills and other debts on time
Getting
pre-approved is one of many steps that will show home sellers that you are
serious about buying, and it often helps speed up the process once your offer
has been accepted.
When you are ready to purchase a home in Boston,
contact an experienced Boston
real estate agent. I am committed to providing you with the highest
quality buyer service. When making the type of investment that buying a home
requires, you deserve to have all the latest market information and the very
best advice, both of which I can provide you with. I hope to speak with you
soon!
Lucas Garofalo
Keller Williams Realty
(617) 861-3631
Lucas@LucasBostonHomes.com
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