How to Level the Playing Field in a Competitive Housing Market

A recent Wall Street Journal article pointed out that real estate investors may be pushing young, first-time homebuyers out of the housing market. Low and mid-priced homes, which appeal to both first-time buyers and investors, are in tight supply. Investors are swooping in with all-cash offers only to turn around and rent out the properties. As rental rates skyrocket across the nation, investors stand to benefit while potential homebuyers are challenged by high rent that may prolong saving for a down payment. Is there a solution? Can buyers finance a home purchase and still put forth a strong enough offer to compete against all-cash? We asked Realtor® Dana Green to weigh in on how buyers can level the playing field.

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How Long Is A Pre-Approval Good For?

In the mortgage industry, we routinely encounter instances in our day-to-day interactions with clients that make us realize what is obvious to us may not be so obvious to those we serve. As loan advisors, a question we are frequently asked by those shopping for a home and going through the mortgage pre-approval process is, “How long is my pre-approval good for?”

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Pre-Qualified vs. Pre-Approved – What’s the Difference?

So you’re on the hunt for a new home. What should you do first? You’ve heard you should get pre-approved or pre-qualified, but which is it? Is there a difference? If you’ve ever been confused by the two, you’re not alone. Many people are under the assumption that the two options are the same, but, in fact, there are major differences between the two. Here’s the breakdown…

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3 Steps to Financial Independence for Millennials

The millennial generation is entering a job market and economy that comes with its own set of challenges. The Wall Street Journal reports that, “The financial crisis exacted a heavy toll on the generation of Americans now entering their 30s. Facing difficult job prospects, little-to-no income growth and a historically unprecedented level of student loans, their finances are in a more precarious state…” At the same time, this younger generation is empowered by technology and motivated by a strong desire for more freedom in their daily life.

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5 Ways to Find Your Dream Neighborhood

Most house hunters have a clear vision of their dream home. A gourmet kitchen. A yard for the kids. Lots of natural light. But how often is equal consideration given to the finer details of the location? How do you evaluate a neighborhood to determine if your dream home is truly in your dream location? Here are 5 ways to figure out if a neighborhood matches your lifestyle and investment goals.

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How Do You Document Income For A Mortgage?

What kind of income documentation do you need to provide in order to qualify for a mortgage? Lending requirements have changed at a rapid pace, largely due to a regulatory environment seeking to prevent a repeat of the real estate collapse. While it used to be good enough to state your income, regulations now require that income be “fully documented”. To clarify, here is a list of the forms of documentation that are used to verify income in the majority of mortgage qualification scenarios in 2015:

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