The Times They Are-A Changing You may have heard it’s important to get pre-approved for a mortgage at the beginning of the homebuying process, but what does that really mean? Why is pre-approval so important? In today’s market, with rising home prices and high buyer competition, it’s crucial to have a pre-approval letter prior to making an offer. Here’s why. […]
According to data from the most recent Origination Insight Report by Ellie Mae, the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. While stricter lending standards could be a challenge for some, many buyers may be […]