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Buying Ready

Buyer Ready Pre-Approval Program

REALTOR, Petra Thurner, real estate professional is happy to introduce her  lending partner, Karen Jones.  Karen is a Senior Certified Mortgage Loan Officer and offers the Buyer Ready Service. This innovative approach is designed to empower homebuyers, making the lending process smoother and more certain.

What is Buyer Ready?

Buyer Ready is a groundbreaking program aimed at revolutionizing mortgage lending. To fully appreciate its benefits, it's important to understand the concept of Lender Failure. Loan Officers pre-qualify and guide homebuyers, but the actual approval or denial of a loan is made by an underwriter just days before closing. Lender failure occurs when a loan that was pre-qualified is ultimately denied, causing financial distress and anxiety.

Karen Jones believes that Lender Failure is preventable. The Buyer Ready Pre-Approval Servoce addresses this by thoroughly reviewing your financial documents early in the process. This ensures that your loan file moves smoothly to underwriting once you have a contract, appraisal and title work. With tje Buyer Ready Pre-Approval Service, you can shop for homes with confidence, knowing your loan is secure.

 

Benefits of Homeownership

  1. Invest in Yourself: Owning a home is a smart financial investment.
  2. Potential Tax Savings: Homeownership can offer significant tax benefits.
  3. Personalize Your Space: You have the freedom to decorate and renovate as you wish.
  4. Pet-Friendly Living: Enjoy having your pets without restrictions.
  5. A Place to Call Home: Create a stable and personal environment.
  6. Community Growth: Become an integral part of your local community.

Steps to Success

  1. Pre-Qualification: The first step is to undergo pre-qualification. This helps create a buying plan that suits your goals. Gather your financial documents and submit them to your lending team.
  2. Maintain Financial Stability: After receiving Buyer Ready Pre-Approval, it's crucial to keep your finances stable. Notify your Loan Officer of any financial changes or issues promptly.
  3. Effective Communication: Ensure that there is clear communication between you, your Loan Officer and your REALTOR. Everyone should be aligned with your buying plan.
  4. Making Offers: With Buyer Ready Pre-Approval, your offers will be strong. When ready to make an offer, your Loan Officer will inform the Listing Agent of your robust pre-approval status.
  5. Escrow: Once your offer is accepted, your loan is upgraded and escrow begins.

Ready to Get Started?

The Buyer Ready Pre-Approval process typically takes 72 hours but can extend up to 14 days if additional underwriting review is needed. Keeping your finances in order and maintaining open communication with your team is essential.

Take the first step today and create your home-buying strategy with confidence. It’s the smartest way to buy your new home!

Commonly asked questions

Is Now a Good Time to Buy?

The optimal moment to invest in a home is when you’re ready for long-term stability and have the ability to secure financing. This means finding the right time when you’re prepared to establish roots and can confidently navigate the mortgage process. When you’re financially ready and committed to making a home your own, it’s the perfect time to take that exciting step into homeownership and invest in your future.

Do I Need 20% to Buy a Home?

No, you don’t need 20% to purchase a home! There are fantastic options available to help you get into your new home with less money down. First-time buyers can often qualify for loans with as little as 3% down. Additionally, there are down payment assistance programs, FHA, USDA, and VA loans that offer various benefits and even 100% financing for those who qualify. Don’t let the myth of a 20% down payment hold you back—explore these opportunities and start your journey to homeownership today!

Let my Preferred Lender help you create your buying strategy.

Is There Going to be a Housing Crash?

Given the current housing shortage, a crash seems unlikely. With a large number of people entering the homebuying age and baby boomers holding onto their homes due to low interest rates, demand remains strong. Additionally, the slowdown in building during the Great Recession left us with a significant housing deficit. While prices may fluctuate, the enduring demand and limited supply suggest that the market will remain resilient. Now is a strategic time to invest in homeownership, as the market's fundamentals support long-term stability.