Pre-Approval | Read Our Blog

Tuesday, September 10, 2024   /   by Joyce Dungca

Why Pre-Approval Should Be at the Top of Your Homebuying To-Do List

Since the supply of homes for sale is growing and mortgage rates are coming down, you may be thinking it’s finally your moment to jump into the market. To make sure you’re ready, you need to get pre-approved for a mortgage.
That’s when a lender looks at your finances, including things like your W-2, tax returns, credit score, and bank statements, to figure out what they’re willing to loan you. After that process, you’ll get a pre-approval letter to show what you can borrow. Here are two reasons why this is essential in today’s market.
Pre-Approval Helps You Know Your Numbers
While home affordability is finally starting to show signs of improving, it’s still tight. So, it’s a good idea to talk to a lender about your loan options and how today’s changing mortgage rates will impact your monthly payment. The pre-approval process is the perfect time for that. In addition to de. ...

  team raj jaggi, buyers, sellers, pre-approval, mortgage rates

Thursday, May 30, 2024   /   by Joyce Dungca

The Biggest Mistakes Buyers Are Making Today

Buyers face challenges in any market – and today’s is no different. With higher mortgage rates and rising prices, plus the limited supply of homes for sale, there’s a lot to consider.
But, there's one way to avoid getting tripped up – and that’s leaning on a real estate agent for the best possible advice. An expert’s insights will help you avoid some of the most common mistakes homebuyers are making right now.
Putting Off Pre-approval
As part of the homebuying process, a lender will look at your finances to figure out what they’re willing to loan you for your mortgage. This gives you a good idea of what you can borrow so you can really wrap your head around the financial side of things before you start looking at homes. While house hunting can be a lot more fun than talking about finances, you don’t want to do this out of order. Make sure you get your pre-appro ...

  buyers, housing market, homes, pre-approval, mortgage rates, top agent, home buying

Wednesday, May 3, 2023   /   by Raj Jaggi

Buyer Activity Is Up Despite Higher Mortgage Rates

If you’re a homeowner thinking about making a move, you may wonder if it’s still a good time to sell your house. Here’s the good news. Even with higher mortgage rates, buyer traffic is actually picking up speed.
Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, helps paint the picture of how much buyer demand has increased in recent months (see graph below):
As the graph shows, the first two months of 2023 saw a noticeable increase in buyer traffic. That’s likely because the limited number of homes for sale kept shoppers looking for homes even during colder months.
To help tell the story of why the latest report is significant, let’s compare foot traffic this February with each February for the last six years (see graph below). It shows this was one of the best Februarys for buyer activity we’ve seen in recent memory.

In the last six years, we saw the most February buyer traffic in 2021 . ...

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Monday, May 1, 2023   /   by Raj Jaggi

Why Buying a Home Makes More Sense Than Renting Today

Wondering if you should continue renting or if you should buy a home this year? If so, consider this. Rental affordability is still a challenge and has been for years. That’s because, historically, rents trend up over time. Data from the Census shows rents have been climbing pretty steadily since 1988. 
And, data from the latest rental report from Realtor.com shows rents continue to grow today, even though it’s at a slower pace than we saw at the height of the pandemic:
“In March 2023, the U.S. rental market experienced single-digit growth for the eighth month in a row . . . The median asking rent was $1,732, up by $15 from last month and down by $32 from the peak but is still $354 (25.7%) higher than the same time in 2019 (pre-pandemic).”
With rents much higher now than they were in more normal, pre-pandemic years, owning your home may be a better option, especially if the long-term trend of rents increasing each year continues. In contrast, homeowner; ...

  team raj jaggi, buyers, top team, long island, sellers, your home sold guaranteed or we'll buy it, new york, award winning, best of zillow, housing market, nassau, first-time home buyers, raj has buyer, new listing, suffolk, home evaluation, pre-approval, homes, cash offer in 24 hours, moving, pre-commitment, pre-qualification, gen z, millennials, intrest rates, guaranteed home sale, free evaluation, construction, cash offer, inflation, recession, equity, investors, interest rate

Friday, April 28, 2023   /   by Raj Jaggi

Ways To Overcome Affordability Challenges in Today’s Housing Market [INFOGRAPHIC]

Some Highlights

With so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget.


You can also work with a trusted lender to consider alternative financing options and search for down payment assistance.


If you’ve been searching for a home but are concerned about rising costs, make sure you have a team of trusted real estate professionals for expert advice. ...

  team raj jaggi, buyers, top team, long island, sellers, your home sold guaranteed or we'll buy it, new york, award winning, best of zillow, housing market, nassau, first-time home buyers, raj has buyer, new listing, suffolk, home evaluation, pre-approval, homes, cash offer in 24 hours, moving, pre-commitment, pre-qualification, gen z, millennials, intrest rates, guaranteed home sale, free evaluation, construction, cash offer, inflation, recession, equity, builders, investors, home sold, interest rate