WOW, this summer has been hot! Between the humidity and the high temperatures it feels like everything is melting. Well, not everything, that’s a little extreme, but you get my drift. And there’s a lot more to come. I was thinking about this the other day and wondered exactly how many days of summer we have left. I found a calculator – yes, there are calculators for this – and it told me that as of Monday, July 29th, there are 55 days of summer. I guess that’s not too bad…but…well, the heat can make it seem a lot longer.
Those 55 days are about how long we have left until the end of the “selling season” here in East Tennessee. How are your clients doing in this seller’s market? Are they finding the home of their dreams? Are they getting through the mortgage process with ease? I certainly hope so.
But sometimes, I know the mortgage process isn’t so easy. Like everything else it comes with its own set of challenges. I was reminded of this not too long ago when a client came to me asking for help. His real estate agent told him to find a lender, but he admitted he really didn’t know where to start. So he did what most home buyers do. He started surfing the web, looking for tips and other ways to locate a reputable lender. I felt bad because by the time he contacted me he was frustrated and angry and ready to give up.
I don’t think it should be that way. I believe there are simple things a home buyer can do to make things easier on everyone. I also believe there are a few ways mortgage lenders and real estate agents can team up to help home buyers through the entire process. I know every lender has their own “process” and requirements and rules and timelines and deadlines, but I think there are a few simple things we can encourage buyers to do so they’re prepared to navigate the mortgage process.
Here are my top 3:
- Start Early. We can help educate home buyers about the process ahead. Encourage them to start gathering important documents like tax returns, bank statements, and pay stubs. This will get them moving and help them understand what to expect
- Pre-Approval. We can encourage home buyers to get pre-approved before starting their home search. They’ll have a clear budget and something to show sellers they are serious buyers. Even more important, this will identify any potential issues early on, and allows the lender to start addressing these.
- Trusted Lenders. Agents can recommend lenders known for their integrity, efficiency, and communication. This will build good, solid relationships and help move the process forward. Home buyers will feel confident they’re making good decisions.
These are just a few reminders to home buyers that can significantly help them get through the mortgage process easily and effectively. There’s less stress and less anxiety. And the best part is that it increases the likelihood of successful, on-time closings. That makes everyone happy.
If you’ve got clients surfing the internet looking for ways to secure a home loan, send them my way. I’m always to help educate and guide them through the mortgage process. I can be reached at (865) 745-5626.
Here’s to 55 more days summer fun!
And…as always…let’s mortgage!
John Fleming, Jr.
Loan Originator | NMLS 1850409
(865) 745-5626
john@letsmortgage.com
P.S. I can help clients get through the mortgage process no matter how complicated or challenging. I can help them secure the best loan possible so they can start making memories in their dream home. Send them my way. My number is (865) 745-5626.
Food For Thought: East Tennessee still ranks as one of the top five states people are moving to. In fact, migration trends indicate that 25% of all homebuyers consistently search five states – Florida, North Carolina, Arizona, South Carolina and Tennessee. And here in East Tennessee it’s still a seller’s market, with average prices reaching $455,000, and the average time on the market coming in at 33 days. It’s a hot market for sure, and Knoxville remains #2 on the list. It’s a great place to buy a home. And I’m committed to helping home buyers find the best loan possible. Call me at (865) 745-5626 to discuss options.
Happenings:
Anyone up for a Hootenanny? What’s a hootenanny you ask? Well, the dictionary defines it as an informal gathering where music is played in a party-like atmosphere. Sounds like a good time to me! And on August 17th, the East Tennessee History Center is hosting a history hootenanny. And other than music, it’s got a lot to offer. Activities, genealogy workshops, walking tours, and a lot more. The best part is that it’s FREE and FAMILY-FRIENDLY. Come on out to Gay Street and join in the fun. Maybe I’ll see you there!