The Advantages of Mortgage Pre-Qualification

The Advantages of Mortgage Pre-Qualification 

Elmwood Park, NJ (February 21, 2014) – With the housing market finally heating up, experts predict a continued rise in home prices in 2014. This is on the tail of an average 10.9% increase in housing nationally over the last year, as reported on Kiplinger.com. In part, limited home inventory has served to drive those higher prices, but the good news is that new properties may be coming to market. However, it still remains a sellers market, where coveted properties will be snatched up quickly.

In short, every advantage counts when making an offer on your dream home. One easy pre-emptive move that can help you get a leg up on other prospective buyers: securing a mortgage pre-qualification.

When you understand how much home you can afford, you’re in a much better position to assess available homes in your market efficiently. This creates a more focused real-estate search, and can help you find the right property while mortgage interest rates and home prices are still low. Some experts are predicting higher mortgage rates if the federal stimulus is reduced later in the year.

Mortgage pre-qualifications can give you an advantage over other bidders. Think of it this way: When a seller knows that an offer is made by a serious potential buyer who has already taken steps to secure a home loan, they are likely to take it more seriously. Mortgage Pre-Qualifications help serve as an early voucher for a buyers overall credit worthiness, helping their consumers. Spencer Savings Bank is not charging their customers a free for this service.

Pre-qualification is not a commitment to a particular lender or loan. Spencer Savings Bank gives their customers insight into their financial picture, helping customers understand their profile as a prospective buyer and puts them in the position to act quickly on your dream home.

Spencer Savings Bank is offers attractive loan rates, making their customers financial goals a reality. Spencer Savings Bank gives their customers insight into their financial picture, helping them to understand their profile as a prospective buyer and putting them in a position to act quicker on purchasing their dream home.  Spencer Savings Bank is not charging a fee for this service. Visit Spencersavings.com to learn more or get started today.

About Spencer Savings Bank

Spencer Savings Bank, headquartered in Elmwood Park, New Jersey, is a community bank that has been serving its local communities with integrity and pride for over 75 years.  The Bank, serving consumers and businesses, operates 19 branches throughout Northern New Jersey.  Spencer Savings Bank has over $1.8 billion in total assets.