Lake Lure Blog
In todays Real Estate Market it is necessary to be Pre-approved instead getting a pre-qualification letter, as there is no loan guarantee with pre-qualification. Pre-qualification is based on a basic review of the buyer’s finances. This gives a general idea of what is affordable. This does not require a formal loan application. Pre-qualification is non-binding and is useless.
Pre-approval involves filling out a formal mortgage application, which you should be able to do at no cost. To get pre-approved for a mortgage your credit score at a minimum must be above 650. If you want the best rates, strive to improve your score to the 760 level or better. To be continued:
On Oct 6th, 2010, Keller Williams Realty Mountain Partners will be hosting Kit Cummings at the Mountain Lodge just off I-26 at exit 53 in East Flat Rock, NC. This is a free seminar and it will motivate and change the way you look at life. Please join us for the life changing event!! Here is Kit's website: http://kitcummings.com/mainsite/
What is the Velocity of Money and How Does it Impact Home Loan Rates?
According to the most recent Commerce Department report, Personal Spending and Personal Incomes were unimproved from the previous month, and the Savings Rate increased as consumers cut back on spending. While that data sheds light on the slow economic recovery, it also has implications on home loan rates.
Here I am putting together a new website for my Real Estate in Lake Lure, NC. Lake Lure is a beautiful area of Western NC to live. Just inside the Blue Ridge Mountains, we are protected from extreme weather. I will post more on Lake Lure tomorrow. Just trying to get things set up right now.
Please come back soon, as I will post different things and events in Lake Lure and you just might be interested.