Fed Says 1 in 3 Loan Applications Denied
Pre-approval is more important than ever for Tampa home buyers. According to a Federal Reserve study, nearly one in three borrowers applying for a loan in 2008 was denied as lenders enforced tight standards to respond to the mortgage crisis. Read the AP article.
Many buyers are denied even though they have a pre-qualification letter, which can lead to expensive last minute surprises before closing. To avoid the wrong loan, or the wrong lender, consult with a Team Bohannon Value-Added Real Estate Consultant. Our goal is to provide you with a systematic process and better information that will lead to selecting the right loan for your personal circumstances.
Many consumers make the mistake of selecting a loan and lender based solely on the interest rate, or by calling an acquaintance in the mortgage business. To make a better decision, we employ a Quantitative Cost Analysis®, a Lender Comparison Worksheet®, and a Qualitative Service Analysis® to evaluate the optimum scenarios. By going way beyond what a traditional Tampa Realtor® would offer, Team Bohannon consultants help navigate a tumultuous sea of choices and deliver a highly differentiated value proposition.
« What the housing ‘rebound’ means for you | Home | Are Distressed Homes Worth It? »
Comments are closed.