Applying for a mortgage loan, loan rates, loan tips – RE/MAX Champions, Getting loan pre-approved is your key to negotiation success

In this region, homes often sell quickly, if they are priced to sell.

Mimi and her Latest Home Team  know that preparation and market knowledge are your key to finding your next home for a price you can afford.

Buyer Home Tour: Once your loan pre-approval letter is obtained, accompanied by a good faith estimate, please email those to Mimi at 888295mimi@gmail.com, then call to schedule a Buyer Home tour. We can design a variety of tours to help you gain market knowledge, while learning about offer negotiation.  Mimi and most of her team members have owned and managed personal and rental real estate for many years and would be happy to share home ownership expertise with you during the tours.

Where we work: Our Latest Homes Team works on "both sides of the water" from Queen Anne/Magnolia east to Lake Washington and north to Edmonds, across the water to Kingston, then south to Poulsbo and Bainbridge Island.

We want to be sure you receive a Sound Buyer Preparation whose 5 components are:

Strategy: Establishing your individual goals for home ownership, within realistic budget constraints.

Reality: Make certain that your new home has everything you need in addition to everything you want.

Location:  Will your new neighborhood have the schools, transportation, shopping and other characteristics important to you and your family? Mimi likes to rate properties according to their walkability and transportation options to help save you money$$

A strong offer: Mimi and team help you prepare to negotiate a well thought out, strong offer, combining price, and other variables to create an offer the seller "can't refuse". When multiple offers have been made on the property you are interested in purchasing, Mimi's fine-tuned negotiating skills, knowledge of market trends, persistence and judgement are your strongest assets to ensure that your offer will beat out the competition, without, however, compromising your financial requirements.

Financing, the 1st step: Finding and understanding your mortgage or other financing options will give you the power to buy wisely and get the best deal! Please call one of our reputable lenders below to get your loan prequalified and begin your home search today!

Reputable Lender List:

Salmon Bay Lending, Jeanne Neal 206-200-8773

Banner Bank www.homeloansseattle.com , Luis Hernandez 206-323-9823

Golf Savings Bank, Maryanne Coffman 425-673-8220

Bainbridge Lending, Brian Hewitt 206-842-7175 or cell 360-710-0487

Loan Application Checklist

For many buyers, applying for the mortgage loan is one of the more stressful aspects of buying a home. The loan application need not be a stressful time. By following a few easy steps, you'll sail through the loan application process.

Make a list of any questions you have about the loan program.
Be sure you understand the advantages and disadvantages of the various mortgage programs for which you may qualify, including the advantages and disadvantages of Fixed Rate Mortgages versus Adjustable Rate Mortgages.
Decide if you want to lock-in or float the loan's interest rate.
Locking-in the rate means that the lender commits to the mortgage interest rate for the loan - typically at the time the loan application is submitted. By floating the rate, you can lock-in the interest rate anytime between the loan application day and closing. Buyers opt to "float the loan" when they believe interest rates will drop after their loan application date and prior to closing. The risk is that rather than dropping, interest rates may rise, increasing the mortgage payment.
Decide if you want to pay additional points to lower your interest rate.
Typically you can elect to pay additional points (each point is 1 percent of the mortgage loan payable in cash at closing) to lower the interest rate of your mortgage loan.
Gather your paperwork.
Click here to view a list of typical loan documentation.

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