If you’ve been looking for a new house or are a first-time homebuyer, you may have experienced some challenges during your search. A recent article from TheMReport.com, a mortgage banking publication, states some homebuyers are facing a limited housing inventory, which can make it difficult to find the ideal property. Low inventory levels can also lead to potential bidding wars, which can prolong the process or force buyers to search for a different home.
Another issue is affordability, and some buyers might be having trouble finding the right home at a price point within their budget. While inventory levels and home prices are not something you can control, you can review your finances to ensure you’re ready to act quickly when you find the perfect home. Here are some tips:
If you’re thinking of buying a home, or looking to refinance your mortgage, Michigan First Mortgage is here to help. Call us at 877.312.9033 or email us.