City1st Mortgage Services, Arlington WA

08/23/2023

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If you remember the housing crash back in 2008, you may recall just how popular adjustable-rate mortgages (ARMs) were back then.

08/15/2023

Reluctant to list your house because you’re not sure if homes are selling right now? Based on current home sales data, roughly 11,000 homeowners are selling their homes daily. That’s over 450 an hour or eight homes every minute. But here's the key: your house won't sell if we don't list it. DM me today to get started. by

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08/15/2023

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05/10/2023

The 2023 housing market will be defined by two key factors: inflation and mortgage rates. Where rates go in the new year depends on what happens with inflation. If you’re thinking of buying or selling a home, DM me so you have a trusted advisor on your side who can help you understand where the housing market is headed in 2023.

05/10/2023

02/01/2023

Whether it's a cozy cottage or a spacious estate, the joy of a home lies in the memories you create and the love that fills it. Discover the happiness of homeownership, with a home that perfectly fits your lifestyle and budget. Get Pre-Approved today https://buyerprequalify.com/jackhatley?brand=MjYzLjE2NzUxMjU2MzQ by

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12/09/2022

Homebuying Sentiment Stabilizes After Long, Slow Slide. Fannie Maes Home Purchase Sentiment Index (HPSI) showed some signs of life in November, posting its first increase in nine months. The index, which distills answers to six questions from the companys monthly National Housing Survey (NHS) gained 0.6 points compared to its all-time low in October. It... More here - https://www.mortgagenewsdaily.com/news/12072022-national-housing-survey

10/28/2022

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10/28/2022

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Some Highlights Even with higher mortgage rates, the mortgage process doesn’t need to be something you fear. Here are some steps to help as you set out to buy a home. Know your credit score and work to build strong credit. When you’re ready, lean on the pros and connect with a lender so you can ...

10/27/2022

If you’re planning to sell your house, here’s what you should know. The inventory of homes for sale has increased this year compared to last, but supply is still far below more normal years like 2019. That means your house should still be in demand if you work with an agent to price it right. If you’re ready to sell, DM me to get started.

10/25/2022

Pre-Approval Is a Critical First Step on Your Homebuying Journey
Pre-Approval Is a Critical First Step on Your Homebuying Journey | MyKCM

If you’re planning to buy a home this year, one of the first steps on your journey is getting pre-approved. Especially in today’s market when mortgage rates are higher than they were just a few months ago, getting a mortgage pre-approval can be a game changer. Here’s why.

What Is Pre-Approval?
To better understand why pre-approval is key, it’s important to know what pre-approval is. The Mortgage Reports explains it like this:

“When you’re ready to take the leap into homeownership, your first step is mortgage preapproval. . . . A mortgage preapproval is when a lender determines you’re qualified for a home loan. Your preapproval letter shows the maximum loan amount you’re approved for (your home buying budget), as well as the specific interest rate and loan term you can expect.”

As part of the pre-approval process, a lender will look at your finances to determine what they’d be willing to loan you. From there, your lender will give you a pre-approval letter to help you understand your true price range and how much money you can borrow. That can make it easier when you set out to search for homes because you’ll know your overall numbers. And with mortgage rates rising and impacting affordability, a solid understanding of your numbers is even more important.

Pre-Approval Can Signal You’re a Serious Buyer
Another added benefit is that pre-approval lets the seller know you’re qualified to buy their house. A recent article from realtor.com notes:

". . . getting pre-approved can actually improve your chances of falling into the sellers’ good graces, and you’ll want to get it done as early as you possibly can in the home-buying process."

Even though bidding wars are easing this year as the market shifts, preapproval is still an important part of making a strong offer. It can help a seller feel more confident because it shows you’re serious about their home and that you’re a qualified buyer.

Bottom Line
Getting pre-approved for a mortgage is critical. It helps you better understand what you can borrow and shows sellers you’re serious about purchasing their home. Connect with a local real estate professional and a trusted lender so you have the tools you need to succeed as a homebuyer in today’s market.