Buying a home today is certainly not as easy as it used to be. Charleston, SC is no exception. Sales figures for Charleston are up year to date, proving that buyers are out there. However, bring on the hoops and start jumping through them to get a loan. Lenders are being more demanding of documentation from buyers, and they are combing through every detail of your finacial history with a microscope. If you are a first time home buyer, make sure you do your research into what is involved in obtaining a loan. Interview lenders to make sure you feel that they will be a good communicator with you, and will teach and coach you through the process. Be prepared to give them everthing they need, in a timely fashion. Typically, the lending side of the home buying process is the most time consuming, so stay on top of your documentation.
If you haven't bought a home in a while, be prepared for a lender that will run you through the ringer. It will be nothing like it was a few years ago. Funds are available to buy homes, but the lender now has stricter guidelines on who and where those funds are going.
No comments:
Post a Comment