How to Prepare for the Summer Market
The summer homebuying season is one of the busiest times of year. Longer days, school breaks, and warm weather make it an ideal time for buyers and sellers alike to make a move. But with higher demand comes increased competition, which means it’s crucial to be fully prepared before jumping into the summer market. Whether you’re buying your first home or your next one, here’s how to set yourself up for success this season.
Work With a Local Lender Who Knows the Market
In today’s fast-paced housing market, working with a local lender (wink wink) can give you a serious edge. Unlike large national banks or online lenders, we live and work in the communities we serve. That means we understand local market trends, regional requirements, and what sellers and agents expect. We can also offer you local benefits, such as grants and programs through the Iowa Finance Authority that online lenders or out of state lenders just can’t.
We take the time to get to know your goals and help you make the best financial decisions for your future by offering you all the available programs in our area.
PS: Working with a local lender also usually comes with lower interest rates, and lower closing costs.
A Good Lender Makes the Process Smoother
From the moment you start house hunting to the day you close, having a trusted lender on your side makes a world of difference.
If your lender is taking days to respond or is unable to get an approval done within a day you may be at risk of losing out! An application could take longer to approve if the lender is waiting on documentation but otherwise, the process should be quick and easy!
Our team is with you every step of the way—answering questions, breaking down the process, and offering quick responses. Our in-house underwriting and processing teams help speed up timelines and eliminate unnecessary delays. Our goal is to make the homebuying experience less stressful and more successful for YOU!
Be Prepared
Summer brings out more buyers, which means the competition can be a little more congested.
Being prepared can help put you in the best situation. Know your budget, make a list of must-haves vs. nice-to-haves, and work closely with your lender to be ready when the right property hits the market.
Also, it’s worth gathering all your required paperwork upfront so you have it easily accessible when your lender inevitably asks for it. This includes your personal details such as name, birthdate, marriage status, and social security number, and also your employment history, W-2s and tax-returns. But don’t worry too much—when you contact us, we’ll let you know everything you need.
Our Strong Pre-Approval Letter Sets You Apart
One of the most important things you can do to get ahead in the summer market is to secure a strong pre-approval letter. Strong pre-approvals put you ahead of the game because if your lender does it right (like us) they ask for all of your information upfront in order to pre-approve you, so you know exactly the loan amount you are approved for. This ultimately provides peace of mind and security for you, as the buyer.
Unfortunately, we’ve seen pre-approvals from other lenders come with “small print” saying the pre-approval is contingent upon all of your personal information such as income, credit score, ect. AKA the information that is literally needed in order to give a strong pre-approval!!
Our pre-approvals are backed by your real information and questions asked upfront, which means they’re solid and reliable. This gives sellers peace of mind and gives you a leg up on the competition.
Move Quickly
The summer market moves fast—but so do we. When you’re working with RMN, you can expect fast closings, often in 30 days or less. That speed can make all the difference when you are ready to get into your new home and settle in before summer ends.
If you’re looking to buy this summer, reach out now! We’ll help you get pre-approved, prepared, and positioned for success so you can buy with confidence and close with ease.