Fighting for a Home versus Fighting for a Loan

Posted by Howard Flaschen on Saturday, March 17th, 2012 at 8:25pm.

Fighting for a Home

versus Fighting for a Loan

Jacksonville, FL Real Estate - You know over the last few years we have watched the turmoil hit the housing market from close up and while many of you out there have experienced it as well we get the pleasure of experiencing the pain over and over again.  Our customers have stories to tell and each one is unique but for both home buyers and home sellers they do have a few things in common and one of them is:  Horrors Surrounding Home Financing.

Today's buyers should be steeled for the fight of trying to get a loan.  They're going to peel you open and check everything.  Just recently, one of my customers had to justify a $400 deposit that their son gave them, paying them back for a loan that they had given him.  This indeed had to be an affidavit like "Letter of Explanation".  Get used to that terminology because you're likely going to be hearing it a lot between application and closing.

So I ask, do you want to get a home or fight for a loan?  The reason I ask is because we as your Realtor (and many other Realtors) will be able to tell anecdotal stories forewarning you and helping you get ready to fight for that low interest loan you can get right now but you need to know which lenders are lending and which ones are simply prequalling.  My Realtor friends can probably rattle off 3 right now and that information may be able to prepare you for getting your home as opposed to the heartache of fighting for your home loan.

So, just know that not only is your Realtor going to be able to help you get your next Jacksonville home but almost equally as important be able to point you in the direction of some of the lenders that will actually give you a loan.

Get ready and be ready to be humbled.  If you dont know your credit score, you're about to.  If you didnt pay that bill from many eons ago, its going to be there, like a bear trap.  That collection you thought was gone... It might not be.

Finally, when they say you've been pre-approved just know that that Pre is a long way from the finish line.

Have any questions?  Just call, email or hit me up on chat... We're here to help!

Howard Flaschen



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