3 Barriers to Entry for a Homebuyer

Posted by Peak Realty on Thursday, December 17th, 2015 at 1:16pm.

"I think some people are scared to talk to us [about a home loan]...I want to talk to the public and educate them about the process...so that we can put together a game plan."

Seth Wilcock, Loan Officer

NOVA Home Loans



Interview w/ Seth Wilcock at NOVA Home Loans & Keelan McCamey, Realtor at Peak Realty talking about 3 common items that hang up buyers from attaining their dream of home ownership. 



Key Takeaways

      • Get started early, so that you can plan to adjust any credit issues that may currently be on your report
      • Talk to a lender BEFORE you pay off any debts, since a strategic approach may be required to get your credit score to the best possible outcome prior to buying
      • Don't be afraid to contact the lender...a good lender is there to help and to offer a long-term strategy, if necessary, to work toward getting pre-approved
      • Be prepared to provide documentation throughout the time you're under contract on your new home. Underwriters today are asking for a lot more info, to comply with new rules


The recently formed Consumer Financial Protection Bureau (CFPB) regulate how lenders operate. A good place to start your own research is on the CFPB Website, to take a gander at the new Buyer Toolkit.

We have additional resources at Peak Realty as well, including our Buyer Guide eBook for you to consider. Of course, after you get the loan process up & going feel free to reach out to one of Peak Realty's Realtors. 

 

Leave a Comment