Uncategorized June 20, 2016

Credit Knowledge & Home Buying Confidence

CreditKnowledgeandConfidenceSpring and summer is such a busy time in the Lynden Real Estate industry. Not only do we see a lot of new Lynden, WA homes for sale come on to the market, but this is the time when a lot of the buyers come out to look at properties and make offers. If you have been looking for a home to buy in Lynden, take a look at this interesting chart. It displays the statistics behind buyer confidence and how it relates to their credit knowledge and finances. One of the things a qualified Lynden, WA Realtor will tell you before buying a home is that getting pre-qualified is crucial to a successful buying process. Especially in today’s competitive market where properties are getting multiple offers at once. You want to stand out against the crowd. By having your ducks in a row ahead of time, you not only increase your own buying confidence, but the seller feels more confident that you are a serious buyer.

By getting pre-approved ahead of time, you are able to get a better grasp not only on what you qualify for based on credit and finances, but also if you can’t qualify and why. This allows you to fix any errors on your report as well as save. When you have a good grasp on your finances, you can take action to buy your dream home in Lynden, WA.

 As you will see on the graph, 58% of buyers are taking the necessary steps to get a higher score so that they can obtain a better interest rate. These steps include keeping lower balances on credit cards, paying off debt and paying off bills on time.  Per the graph, 70% of buyers looking to buy a home for sale in Lynden feel way more prepared to buy a home. Shockingly, 54% of buyers don’t even know their credit score.

With the Lynden real estate market in full swing, it is so important for sellers to have a peace of mind when picking an offer. A lot of the time, they are going to pick an offer where the buyer is prepared, knows their credit score and has already been approved for the loan. If you are thinking of buying a home for sale in the Lynden and have questions on the process, give me a call at 360-410-0848.