Expect “Speed Bumps” when buying a Home

Posted by Admin on Mar 6, 2011 in Blog, Understanding Your Mortgage | 0 comments

12 common types of “Bumps”

 

• Misinformation on credit report
• Complications with verifications of rent
• Short cash to close
• Home inspection issues
• Lender or buyer required repairs
• Missing the original closing date
• House does not appraise for agreed sales price
• Additional documents required prior to closing
• Interest rates increase due to market conditions
• Unmotivated or difficult sellers
• Verification of income is less than previously stated
• Appraisal delays

Almost every transaction has minor “speed bumps.” There are hundres of things that could go wrong during the purchase of a home. This is why it is important to work with a mortgage expert. We at Indigo Mortgage will handle most of these issues behind the scenes. However, if a problem should arise that requires our attention, it is important to handle it QUICKLY and with GREAT DETAIL.