Yes, You Can.....
Finding a home to purchase in today's market is the easy part.....next comes the process of getting the loan. All buyers are encouraged to speak with a lender prior to writing a contract to purchase a home, but even that is not a guaranteee of being able to close on the sale. Buyers must work closely with their lender and their real estate agent to insure a successful purchase and closing. Lenders have tightened their qualification process and most are requiring larger downpayments than in recent years. However, there are loans available and the frugal, astute and educated buyer can find them. Once the loan is in place, inspections must be performed, title searches completed, and appraisals obtained. Each of these steps is important to all parties....let a professional CENTURY 21 agent help you through the process.
Foreclosed homes are a popular option in today's market, but owners such as HUD, FNMAE and FHLMC have stringent guidelines and are not as flexible in negotiations as individual sellers may be. After all, the government entities have already taken into account discounts and condition of the property prior to foreclosing and placing the property back on the market. Most of the government entities will require loan approval letters to be submitted with an offer and some require 10% earnest money. Just be PATIENT, work with an agent experienced in the process, and understand that most of the homes will be sold in "as is" condition because the seller has no long term knowledge of the property.
Many buyers are choosing FHA, VA, Rural Deveopment and MHDC loans because of specialized terms and loan downpayments. Call one of our CENTURY 21 agents....we can put you in touch with local lenders.
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