Because he wasn’t (pre)qualified.
Dear friends,
April Fools’ Day may have passed but I still take the month to make a dad joke or two because spring home buying season is heating up but the paperwork 🥱, competition, and thinking about finances can be a downer. I promise to help you keep your eye on the big picture, see the pot of gold at the end of the rainbow, and maybe even enjoy the mortgage process. It ain’t brain surgery, but I’ll keep your head on straight 😉.
Why was the homebuyer happy even when they didn’t win the race?
Because they were last but not leased.
Even when rates aren’t where we want them to be, owning your home is still the best way to gain long term wealth. By owning your own home, you’re paying down principal and accumulating equity on your own investment, not the landlord’s.
What’s that feeling you get when you miss out on your dream home?
Homesick.
Are you already looking for a home? Here’s a helpful tool to crunch the numbers to see what you can afford. And then get pre-qualified!!! By getting pre-qualified, you are not obligated to buy. It just puts you a step ahead of the competition when you find that dream home (if it’s so awesome, chances are someone else loves it, too.)
Why are short-term lenders like stairs?
Because they’re always up to something.
If you’re going to buy property this year, watch out for short-term loans like Klarna, Afterpay, Affirm, Sezzle and others. These are incredibly hard to document with your mortgage lender and will add loads of paperwork to your application. Check out my other do’s and don’ts to keep your loan process on the up-and-up.
All jokes aside, let’s talk when you are ready to start the process.
Ok, one more…
A client tried bidding on a shopping center but someone outbid him at the last minute.
I guess he couldn’t win a mall.
—Mark