FAQ
Frequently asked questions
1. What is the first step for a 1st time home buyer if they are planning to purchase a property?
1st time home buyers should decide their budget in order to look into an area that fits their needs. Then they need a loan officer to pre-qualify their purchasing power according to the buyer’s financial situation.
2. What should the buyer need to know before deciding to put in an offer?
Review the seller’s disclosure package and conduct a home inspection if needed.
3. How long is a pre-approval letter valid for?
A pre-approval letter is usually valid for 30 days after issuance.
4. Can a buyer rescind a signed purchase contract?
Yes, a signed purchase contract can be rescinded within a contingency period.
5. What does a buyer need to do during the pre-qualification process?
The most recent two month bank statements showing sufficient funds for the down payment are needed to provide. Credit report needs to be pulled from the lender or loan officer.
6. If a seller plans to sell their property, what should they do first?
Meet with our listing specialist team to identify the current market value of the property. Our team will customize a plan for each homeowner to make their property sell at a top dollar.
7. Can we buy before selling our existing home?
Absolutely, our loan team will customize financial plans to fit each homeowner’s financial needs.