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The Sandberg Team @ Coldwell Banker Vanguard Realty

Real Estate Sales & Service in Nocatee, Ponte Vedra & Jacksonville, Florida

Contact The Sandberg Team
904.257.6604 | PonteVedraHomes@gmail.com
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You are here: Home / Homebuyer Finances

Homebuyer Finances

Homebuyer Financing ChecklistKnowing how much house you can afford upfront will make the home buying process much easier. Some key points to remember:

Pre-Approved is Better Than Pre-Qualified
It’s essentially the difference between saying, “I should qualify for a loan at this amount” vs. “I will qualify for a loan at this amount”. When you’re pre-approved, the lender has pulled your credit and done the necessary financial background checks to say with confidence that you can get a loan (provided no changes between pre-approval and closing). Sellers will typically look more favorably on a pre-approved buyer vs. a pre-qualified buyer.

Short Sales & Foreclosures are Not Necessarily Cheaper
Yes, you may pay less upfront for a distressed property. But how much will you have to spend to improve the home to make it livable for you, or even to just bring it up to code? Furthermore, do you have the time/patience to persevere through an extended buying process as you wait for bank approvals?

Rates are Low (for Now)…But Inventory is Tightening
It’s still a buyer’s market…but for how long? Mortgage rates will stay low, but the consensus is they will begin to creep up. Furthermore, inventory is shrinking, meaning there’s more competition for each home that’s for sale.

Estimate Your Homebuying Costs

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