Are You “Mortgage Ready” and Don’t Know It? 4 Obstacles That May Be Stopping You From Owning a Home
CNBC reported that an estimated 7.9 million renters were actually “income mortgage ready” — meaning they were qualified and could have bought a home — according to an analysis of the 2022 American Community Survey by the U.S. Census Bureau.
While some of those folks likely chose to rent instead of buying, many of them might not have been aware that they could qualify for a mortgage, and would have chosen to buy if they’d simply gotten pre-approved and knew they could.
If you’re currently renting, but would love to buy a home of your own, here are 4 things that may be keeping you from knowing that you’re “mortgage ready”:
1) Fear of Rejection
Nobody likes getting rejected, so it’s understandable if you’d rather not open yourself up to the heartbreak of being told you’re not qualified to buy a home!
But you might be underestimating your financial stability, and overestimating the strictness of mortgage requirements. Lenders certainly have requirements you’ll need to meet, but they also have various programs to accommodate different financial situations.
Look past your fear of rejection and reach out to a lender to get pre-approved!LEARN MORE…
Visit my website at: https://www.anastasiakaufman.com/
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Anastasia Kaufman, GRI,ABR,SFR,CDPE,SRS
Cell: 401-338-2749
Email: Anastasia@anastasiakaufman.com
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