Susanne and Erin

Have you heard the saying that 'things' usually happen in 3s? We see this often with clients, a child on the way, a new job, and they have found the home of their dreams. When life falls into place, everything seems to happen at once. If you find yourself in a similar predicament, don’t worry, just be prepared. It seems the most common changes to happen at the same time are a new job, which often times pays more, and finally finding the right home. This is a great combo but there are some things to be aware of.

 In the past lenders wanted two months worth of pay stubs from your new employer but… in this crazy market, lenders now want more. Some lenders require 5 to 6 months worth of pay stubs.  This is something you absolutely have to take into consideration while shopping for your dream home. The market has indeed slowed down a bit but still, no seller in their right mind should accept an offer that has a closing date of more than 3 months out. So when you are shopping, and when you are finding the right lender be sure to ask how many pay stubs you need for documentation. This can affect which lender you choose, depending on your time line. It can be very stressful to find this out after a deal has been accepted, and now as a buyer you have to convince the seller to wait. (Something most sellers are already tired of doing.) I bring up this point because in the past two weeks, I have had this happen with a client and with another agent in my office. Be prepared, be aware, and enjoy life’s changes, even when they happen at the same.

Talk to you soon!

Erin Goodwin

RE/MAX Mutual Realty

206.251.4259