Denver Realtor

Every Home Deserves a KILTED Closing

  • Buy
    • Search for Homes
    • Mortgage Rates and Mortgage Payment Calculator
    • Relocation
    • Renting vs. Buying a Home
    • Rent-To-Own
    • My Listings
    • Resources for Buyers
  • Sell
    • Find Your Home’s Value
    • Resources for Sellers
    • Divorce and Selling Your House
  • Invest
  • Communities
    • Denver Neighborhoods
    • Centennial Homes and Community
    • Lakewood Homes and Community
    • Littleton Homes and Community
  • Blog
    • National and Local Real Estate Housing Market
    • Denver Housing Market
    • Buying a Home
    • Selling a Home
    • Financing a Home
    • Real Estate Investing
    • Renting
    • Homeownership
  • About
    • Why Choose Scott
    • Client Testimonials
    • Kilted Closings (photos)
    • eXp Realty Colorado
  • Contact
    • Join eXp Realty
You are here: Home / Buying a Home / Hire a Pro and the Mortgage Process Won’t Be Scary

Hire a Pro and the Mortgage Process Won’t Be Scary

October 31, 2019

Taking the Fear Out of the Mortgage Process A considerable number of potential buyers shy away from the real estate housing market because they’re uncertain about the buying process – particularly when it comes to qualifying for a mortgage.

For many, the mortgage process can be scary, but it doesn’t have to be! 

In order to qualify in today’s market, you’ll need a down payment (the average down payment on all loans last year was 5%, with many buyers putting down 3% or less), a stable income, and a good credit history.

Once you’re ready to apply, here are 5 easy steps Freddie Mac suggests to follow:

  1. Find out your current credit history and credit score– Even if you don’t have perfect credit, you may already qualify for a loan. The average FICO Score® for all closed loans in September was 737, according to Ellie Mae.
  2. Start gathering all of your documentation– This includes income verification (such as W-2 forms or tax returns), credit history, and assets (such as bank statements to verify your savings).
  3. Contact a professional– Your real estate agent will be able to recommend a loan officer who can help you develop a spending plan, as well as help you determine how much home you can afford.
  4. Consult with your lender– He or she will review your income, expenses, and financial goals in order to determine the type and amount of mortgage you qualify for.
  5. Talk to your lender about pre-approval– A pre-approval letter provides an estimate of what you might be able to borrow (provided your financial status doesn’t change) and demonstrates to home sellers that you’re serious about buying.

Bottom Line

Do your research, reach out to professionals, stick to your budget, and be sure you’re ready to take on the financial responsibilities of becoming a homeowner.

Start Your Home Search:

Are you ready to start searching for your next home? It’s a great time, we have more inventory than we did the past few years. I encourage you to explore homes currently on the market to get a feel for the types of homes, locations, and price points. My Denver real estate blog has loads of useful information for home buyers trying to figure out what they want to do. And of course, please call me, or send me an email / text, to discuss your next home and the buying process.

Also, if you are considering new construction, remember the builder’s real estate agent represents the builder’s interest, not your’s. There is no cost for you to have a buyer’s agent represent you. In fact, I may be able to help you save money and negotiate for extras which the builder may not let you know about.

Get My List of Hot Properties »

Considering Selling Your Home?

If you are looking to sell your home in the Denver area, I encourage you to work with a real estate agent who has the experience and knowledge to provide an accurate market comparison so you can determine the right asking price. The market is more balanced now and your asking price is an important component of your selling strategy. Contact me today to learn how your home stacks up against the competition and how we can position your property to sell quickly and for a fair price.

Get A Quick Home Valuation »

SHARE THIS:

  • Email
  • Print
  • Facebook
  • Twitter
  • LinkedIn
  • More
  • Reddit
  • Tumblr
  • Pinterest
  • Pocket
  • Telegram
  • WhatsApp
  • Skype

Topic: Buying a Home, Financing a Home, Real Estate

SUBSCRIBE: Receive a Weekly Digest of This Blog in Your Email Inbox

/ ( mm / dd )
(No SPAM. Just good content. Safe unsubscribe anytime.)

DENVER REAL ESTATE & HOUSING BLOG

scott rodgers realtor blogHi, I'm Scott Rodgers, a native of Denver and a professional Realtor serving the metro Denver metro area. In short, I help people buy and sell homes, and have built a bit of a reputation wearing a kilt to my clients' closings.

Follow this daily blog on the Denver housing market and real estate related topics for highly relevant information for home buyers and sellers.

And should you or someone you know be in the market to buy or sell a home, please reach out to me to discuss what you are looking to do. I adapt to all my clients' needs and strive to provide you with The Peak Results.

Find Your Next Home

Nextdoor.com Favorite Agent Cory-Merrill Denver

2020 Rising Star Real Estate Agent Scott Rodgers

Denver Real Estate Blog

  • How to Make the Dream of Homeownership a Reality This Year January 18, 2021
  • Things to Avoid after Applying for a Mortgage [INFOGRAPHIC] January 15, 2021
  • Why Right Now May Be the Time to Sell Your House January 14, 2021
  • Will Forbearance Plans Lead to a Tsunami of Foreclosures? January 13, 2021
  • 4 Reasons People Are Buying Homes in 2021 January 12, 2021
  • What Does 2021 Have in Store for Home Values? January 11, 2021
  • Reasons to Hire a Real Estate Professional [INFOGRAPHIC] January 8, 2021
  • Is This the Year to Sell My House? January 7, 2021
  • The Importance of Home Equity in Building Wealth January 6, 2021

Search Homes on Your Mobile

Visit www.ThePeak.com from your mobile phone and click the button below to search the MLS for homes with the best mobile user experience: fast, accurate, and easy to use.
Download App
Or, text 'scottrodgers' to 720-726-1625 and I'll send you the link to download the mobile app.

Giving Back

Join my team on Kiva.org and help alleviate poverty by making loans of $25. We have made over 200 loans for a total of over $5,000 loaned to small business upstarts in over 50 countries.

Scott Rodgers

Broker Associate, REALTOR®
The Peak Results at eXp Realty
Serving greater Denver, Colorado
303-242-8831 (m)

  • Email
  • Facebook
  • LinkedIn
  • StumbleUpon
  • Twitter
  • YouTube

Search

the peak results with scott rodgers - exp realty denver

Why Choose Scott Rodgers as your Realtor »     Recommend Scott on NextDoor »

Copyright© 2021 · EXP Realty - THE PEAK RESULTS with Scott Rodgers · Denver Real Estate Agent · Denver Housing Market · Privacy Policy · Terms of Service

Marketing efforts are not intended to solicit properties listed under written agreement with licensed real estate brokers.
Website content is for informational purposes only. For professional advice or service, engage a licensed real estate broker, loan originator, attorney, or CPA under written contract.

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.