Can a Local Mortgage Broker Help in A Bidding War?

Posted by wadmin on Friday, August 10, 2018

Stone Bridge Mortgage 3 Things Every First Time Homebuyer Should Know

The Portland and Gresham Housing markets are in high-demand, this could decrease inventory and in turn create bidding wars for new home buyers. Getting a local mortgage broker can give you an edge.

A recent Wall Street Journal article about winning bidding wars, it suggests that real estate agents want to work with buyers whose lenders know the local market and have a record of getting deals done. That reassures the listing agent and the seller that a sale will close.

Nerd Wallet offers another reason a Mortgage Broker can help in a bidding war; a pre-approval letter. Nerd Wallet says, “Getting pre-qualified, which merely confirms your income and how much a bank might be willing to lend you based on your credit profile, isn’t the same as having preapproval for a specific purchase offer.”

If you are seeking a home on the market that is in high demand, having a mortgage broker can give you an edge over a buyer that does not have one.

Stonebridge Mortgage Group can help you get pre-approved for a mortgage and help with your real estate loans and other mortgage solutions, both residential and commercial. We serve the greater Portland area and are in Gresham, Oregon.

Call us today at 503.661.5580

 

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