Quality flooring has a significant impact on the value of a home and a bank’s willingness to make loans for the refinance of a home. When an appraiser evaluates a home for a refinance they will pay particular attention to the flooring materials.
For almost nine years, the U.S. economy is rebuilding from the impact of the recession. Today, many Americans are looking to buy homes after years of renting. The real estate market is coming back to tighten up the competition in many parts of the country. Interested buyers are becoming aggressive in giving offers that deepen the pockets of investors.
Before 2008, anyone can quickly get the pulse and approval of the mortgage. Despite the poor credit score, lenders are taking the risks of giving housing loans.
House prices are not the same as before. Today, houses are way up expensive. The home interior is a factor that influences the price. Houses with beautiful design flooring from Dallas Flooring Warehouse are one of the best homes that lenders can fund. But of course, you need to qualify to get the written approval of the mortgage firms.
Despite the stringent practices of the banks, it doesn’t mean that first-time borrowers and new couples will have the difficulty of getting new homes to start their new lives. There are means to prove to the bank that you, as a newbie, is financially ready for a mortgage.
Before going to the bank and mark the ink in the application forms, and before strolling around to series of open house events, check the following basic information and assess your status:
- How much is your monthly income?
- Assess how much is your current standing debt
- What is your credit score in the past few years?
- Do you have credit issues?
- How much cash can you pay as a down payment?
- How much house can you afford?