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Location: Real Estate FAQ
Frequently asked Colorado Springs Real Estate Questions
How do I choose the right type of Agent or Realtor®?
There are several types or Real Estate Agents Click for more specific
info;
-Buyers
Agents-
-Sellers
Agents-
-10 reasons to Use a REALTOR®-
Do I qualify for a loan?
The current mortgage market is extremely competitive. Lenders must have
an informal "measuring stick" in order to offer their clients
a product. In order to establish your bargaining power with home sellers,
buyers need to get Pre-Qualified for a loan. Thus a Pre-qualification
is the informal measuring stick. Pre-approval is the lender's commitment
that they can offer the mortgage, subject to a specific property. Pre-approval
is subject to a lender check.
-CLICK
HERE FOR MORE-
What type of loans are available?
For a quick synopsis of 8 different types of loans available for real
estate transactions.
-CLICK
HERE FOR MORE-
My credit line is not the best. What Can I do?
A credit score is a number lenders use to help them answer the question:
"If I give this person a loan, will I get paid back in full and on time?"
Scores distill the information that exists in your credit bureau report
to provide a "snapshot" of your credit risk picture at a given time. Because
your credit report changes when new information is added, your score will
change over time to reflect any updated information. Your score is based
on numerous factors. Delinquencies are an important factor in bank lending
decisions. Someone who always pays their bills on time creates a reliable
track record that the bank can be comfortable with. On the other hand,
banks are more reluctant to lend to someone who consistently pays late.
Similarly, the amount of debt you have will help a bank determine if they
should issue you a loan. People who have taken out a significant number
of loans and who already owe a great deal are a greater risk for banks.
-CLICK
HERE FOR MORE-
