26 Apr 2018
By RESCO Realty

The Basic Facts About Short Sales

Real Estate, ,
As a potential home buyer, you are probably familiar with what a typical sale looks like. You probably also have a basic understanding of what a foreclosure is and how it works. Another type of sale that may be less understood is called a short sale. These sales are not as popular in the market, but you may come across a few. You may even fall in love with a home that is listed as a short sale. What does this mean for you as the buyer? These are the basic facts that you need to know about these homes…
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22 Mar 2018
By RESCO Realty

What Important Items Can Upset My Mortgage Pre-Approval Status?

Mortgage, ,
When you are purchasing a home, your lender may recommend you obtain a mortgage pre-approval before you find the home of your dreams. There are some benefits to being pre-approved before you find a home, but oftentimes, people confuse pre-qualifications with pre-approvals. So the question many buyers have is what exactly is a mortgage pre-approval? In a nutshell, it's when the lender provides you (the buyer) with a letter stating that your mortgage will be granted up to a specific dollar amount. What Do I Need For Pre-Approval? In order to obtain a pre-approval for your home purchase, you will…
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08 Mar 2018
By RESCO Realty

Should You Get Pre-Qualified Or Pre-Approved For Your New Home Purchase?

Mortgage, ,
Often times, home buyers can be disappointed when they find their dream home only to discover they are not able to get a mortgage to purchase the property. There are methods that potential buyers can use to ensure this does not happen to them. One of the options is to ensure you obtain a pre-qualification from your lender. It is important to understand the difference between a pre-approval and a pre-qualification. While both are helpful, they do not carry the same weight. What are the differences between these options? A pre-qualification allows a borrower to determine how much money they…
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