according to Redfin\u2019s mortgage service and online platform<\/a>.<\/p>\nIt\u2019s low rates and modest inventory that\u2019s creating a more competitive market, especially as buyer demand goes up.<\/p>\n
The competitive nature of today\u2019s market is pushing borrowers to work fast to lock in rates. Some may find themselves re-entering the market if their bids are not successful. This can lead to loss of time and resources as aspiring homeowners hit the reset button on their search.<\/p>\n
If you and your family have been eyeing Oahu real estate, there\u2019s some good news about how to improve the chances of beating out the rest.<\/p>\n
It can be made possible through a preapproval for a mortgage loan, which just requires some details about your employment, income, debt and financial accounts.<\/p>\n
Unlike a prequalification, a preapproval is a firm commitment from a lender that your application has been vetted and passes muster.<\/p>\n
The preapproval will include a solid estimate as to how much the applicant is approved to borrow and on what terms.<\/p>\n
From the seller\u2019s perspective, a potential buyer with a preapproval for a loan is more attractive than others who are not. A preapproval is ideal for confident buyers with strong credit ratings and financial readiness.<\/p>\n
Before getting a preapproval, applicants will be screened for their financial health.<\/p>\n
Once this hurdle is cleared, aspiring homebuyers can enter the market with confidence and financial reassurance to make a competitive deal and stand out from the rest.<\/p>\n
If you\u2019re ready to make a splash in today\u2019s busy market, please contact us today to learn more about how to compete with the best of them.<\/p>\n","protected":false},"excerpt":{"rendered":"
More and more offers for home purchases are being met with stiff competition. Last month, in fact, a majority of bids faced multiple offers, according to Redfin\u2019s mortgage service and online platform. It\u2019s low rates and modest inventory that\u2019s creating a more competitive market, especially as buyer demand goes up. The competitive nature of today\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":3891,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[45,10],"tags":[16,17],"_links":{"self":[{"href":"https:\/\/elementmortgage.com\/wp-json\/wp\/v2\/posts\/3890"}],"collection":[{"href":"https:\/\/elementmortgage.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/elementmortgage.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/elementmortgage.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/elementmortgage.com\/wp-json\/wp\/v2\/comments?post=3890"}],"version-history":[{"count":0,"href":"https:\/\/elementmortgage.com\/wp-json\/wp\/v2\/posts\/3890\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/elementmortgage.com\/wp-json\/wp\/v2\/media\/3891"}],"wp:attachment":[{"href":"https:\/\/elementmortgage.com\/wp-json\/wp\/v2\/media?parent=3890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/elementmortgage.com\/wp-json\/wp\/v2\/categories?post=3890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elementmortgage.com\/wp-json\/wp\/v2\/tags?post=3890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}