According to Ellie Mae’s latest Origination Report, the average FICO® Score on all closed loans dropped to 722 which is its lowest mark since April. The average includes all approved refinance
Why should I get pre-approval?
1. Pre-approval carries more weight when you go to negotiate a deal, especially when there are multiple offers.
2. Pre-approval will give you information on the amount you qualify to borrow, interest rate terms and the type of loan you qualify for.
I have developed some great contacts in the finance industry so if you'd like to obtain some lender information please feel free to contact me. I always recommend that you speak with 2 or 3 different lenders to make sure you are getting the best rates, terms, etc…
Here are some recent articles about loans options and changes, check them out!
Melody Hall Visser is a passionate Realtor who lists, sells, and dwells in Northern Virginia. Currently, she serves as a REALTOR at eXp Realty, LLC. As a life-long resident of Virginia, Melody has....