Price increases over time increase the value and equity of homes, while home affordability is an indicator of how good a city like Dallas is for single-family rentals. As the Dallas News recently reported, low mortgage rates and feverish demand from state buyers and remote real estate investors are driving home prices up 50% in some of Dallas's most popular neighborhoods.
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How often do mortgages not go through?
According to mortgage data firm HSH, com, about 8% of mortgage applications are denied, although denial rates vary depending on location and type of loan. For example, FHA loans have different requirements that may make it easier to obtain the loan than other types of loans.
Which month are most houses sold?
The spring months are often considered the best month to sell a house. In fact, across the country, the first two weeks of May tend to be the busiest and most lucrative time for sellers.
Why do so many houses go back on the market?
Homes are priced below the contracted price and, when they do, a few things can happen. The seller may reduce the contracted price to the appraised price.
What are the chances of being denied a mortgage after pre-approval?
Another very common reason a mortgage is denied after prior approval is because the buyer assumes additional debt. Ask any experienced realtor if they've had a situation where their buyer applies for a new car loan after their home offer has been accepted.