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(WHNT) – Even with rising interest rates, this year’s housing market is set to be just as competitive as in 2021. Home listings are down 60% compared to before the COVID-19 pandemic and with fewer homes for sale, houses are selling faster than ever.
If you are looking to buy a new home, you need to be prepared. Prospective buyers can make their offer more competitive by getting preapproved for financing before even bidding on a house. This lets sellers know that a buyer is serious and provides reassurance that the sale will close without issues.
That means many prospective home buyers are shopping for a mortgage lender before finding the right home. To get the best deal, be sure to compare all the costs and understand how mortgages work. Fortunately, shopping around, comparing prices, and negotiating deals can save you thousands of dollars.
Whether you are buying a home, refinancing your home, or taking out a home equity loan, follow these tips to help make your search for a mortgage lender a success.
- Know how much you can spend upfront. Before you ask for information from a lender, it’s a good idea to know how much you can spend on a loan and the maximum monthly payment you can afford. This information will be a key part of your…
