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Tagged : Mortgage Approval

Found 2 blog entries tagged as "Mortgage Approval".

Buying a home with cash has definite advantages in today’s market. National Association of Realtors® research on cash sales shows that about 30 percent of residential sales are cash transactions. Among investors and international buyers, more than 70 percent of properties are bought outright. If you can afford to buy up front, the advantages are many:

  • Sellers are likely to favor buyers who can pay in cash.  
  • The home price may be reduced for those who pay in full up front.  
  • All-cash purchases streamline the home-buying process: No loans means less paperwork and no delays for mortgage approval.
  • Cash buyers can save money on closing costs, bank appraisals, mortgage applications and fees, title insurance, and so on.
  • Cash purchases eliminate the
670 Views, 0 Comments - You know how tough it is to qualify for a mortgage.

Proof you've got a long-term job with ample income. A credit score to the moon. Your life's savings as a down payment. More cash stashed away. A debt-to-income ratio to die for. For some, tax returns for the last two years.

Once you have a mortgage approval, if you change the profile of any one of those qualifiers, you could have to kiss your mortgage goodbye. Here are some of the things you should do:

1. Avoid Big Purchases, 2. No New Credit, Pay Your Bills, 3. Keep Your Job, 4. Don't Cash Out, 5. Don't Be Stupid.

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