Central PA Homebuyers often forget one of the most important steps in the home buying process: arming themselves with a pre-approved mortgage loan before they begin their house hunting.
A pre-approved mortgage loan is a lender’s commitment to lend to the homebuyer, with specifications on the exact loan amount. To get pre-approved, homebuyers need to provide personal financial information -- such as income, debts and assets -- to a lender. Applications are usually approved with certain caveats. However, with the lender committing to the loan amount and interest rate up front, buyers can have confidence that adequate financing is in place before they start shopping for a home.
Home National Mortgage cites numerous advantages of having a pre-approved mortgage loan, which include the following:
Establishing an advantage in a competitive market: Having a pre-approval letter provides the homebuyer with an edge in a multi-offer situation. Sellers prefer working with potential buyers who are pre-approved in order to avoid the threat of a deal falling through because the purchaser cannot get sufficient financing. An offer with a mortgage pre-approval letter carries far more weight than an offer with only a pre-qualification letter or no letter at all. In fact, sellers often accept offers from pre-approved buyers over buyers with higher dollar offers who have not been pre-approved.
Finding the best possible type of loan: Working with a mortgage lender before looking at houses allows the homebuyer plenty of time to evaluate what mortgage product works best for their financial goals. Once they decide upon the kind of loan that they want and are pre-approved, homebuyers can then focus on finding their dream home.
Establishing the price range: Getting pre-approved for a mortgage enables homebuyers to determine, prior to house hunting, how much money they qualify for, and how much they can afford to spend. The real estate sales associate and homebuyers can then focus on finding homes in the established price range.
Seeking comfort with the loan amount: By taking the time to seek pre-approval, the homebuyer can select a comfortable loan amount. In many cases, buyers can qualify for mortgages that are more expensive than what they feel comfortable committing to for the long-term. Buyers often end up acquiring a more expensive home than they want merely because it works on paper. It’s important for a buyer to purchase a home that they can afford.
Home National Mortgage serves all of Lancaster County, Lebanon County, York County, Dauphin County and Cumberland County with home finance options.
Looking to list your home in Central Pennsylvania? With mortgage rates at historic lows and special programs offered by the government, there's a lot to attract buyers, especially first time home buyers. In order to enlighten the listing process, Coldwell Banker Select Professionals is posting the following information regarding what you can expect when first listing your home.
To begin the listing process, there are two main steps that must occur. First, a real estate professional will discuss the Consumer Notice with you. The main points within this document are as follows: a notice that the licensee represents the consumer only when an agency agreement has been signed. There is also a description of the types of business relationships allowed in PA, as well as a description of the duties a licensee owes you regardless of the business relationship.
Next, the licensee and you, the seller, discuss the different services offered by the broker, including the marketing program. At this point you will also provide information about the property as well as personal concerns and desires. Once all this information is clear between you and the licensee, you both can be assured your business relationship will be suitable to the other and create a contractual agreement which becomes the listing contract.
Now it is time to decide upon a price for the property, which is ultimately your, the seller's, decision. A real estate broker or salesperson may assist the seller in this process by creating a comparative market analysis (CMA). This is a tool analyzing properties that are for sale or have sold which are similar to the seller's in size, amenities, location, age, and style. It is important to price the home appropriately-overpricing can give a seller false hope while driving away potential buyers.
The above is a basic outline of what you can expect from the listing process, so please contact us if your looking for personal service and have questions regarding listing your home in Lancaster PA, York PA, Harrisburg PA, Lebanon PA, Hershey PA and Cumberland County, be sure to connect with one of our agents at www.cbselectpros.com. Coldwell Banker Select Professionals has local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA.
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Coldwell Banker Select Professionals, based at 1000 North Prince Street in Lancaster and with additional offices in Lebanon, Hershey & York can be reached at 717-735-8400 or at www.cbselectpros.com. Coldwell Banker Select Professionals serves the Lancaster PA real estate, York PA real estate, Hershey PA real estate, Harrisburg PA Real Estate, Lebanon PA real estate markets with local offices and agents.
See Coldwell Banker's New Home Communities Throughout Central PA!
Interested in Moving to Central PA? Let Coldwell Banker be your perfect partner.
Corporate relocation? Coldwell Banker is a Principal Central PA broker for Cartus Relocation
Coldwell Banker Select Professionals - We're Always Moving!
Visit www.cbSelectPros.com or Call 800-223-9690 today to get started.
Coldwell Banker Announced a convenient new way to keep in touch with all the new listings of homes in Lancaster County, York County, Lebanon County, Dauphin County and Cumberland County today!
The "New Listings Ticker" is on the Coldwell Banker Select Professionals Homepage, www.CBselectpros.com in the bottom left. Click on it and you go to this page, which includes a display of all new listings from each of the MLS services that Coldwell Banker serves in Central PA. The markets covered by the "New Listings Ticker" are as follows:
And many other smaller markets in between such as Ephrata, Quarryville, Elizabethtown, Palmyra, Marietta, Columbia, Hummelstown, Anneville, Cleona, Dauphin etc.
Be sure to bookmark Coldwell Banker's "New Listings Ticker" for the absolute latest in home listings!
Looking to buy a home in Central Pennsylvania? Mortgage rates are at historic lows and there's a lot to attract first time home buyers this spring. If you're curious about the different kinds of mortgages available, here's a summary of some common home loan programs.
The classification of loans is usually based on their loan-to-value ratio where value is either the sale price or the appraised value-whichever is less. The lower the ratio the, the less risky the loan is for the lender.
Conventional Loans-These loans are generally viewed as the most secure because the loan-to-value ratio is lowest with a down payment of 20% or more. Borrowers can still obtain these loans with a lower down payment through a private mortgage insurance program. This insurance acts as additional security for the lender in the event that the borrower defaults.
FHA-Insured Loans-In order to make loans more affordable, the Federal Housing Administration (FHA) insures these loans to protect the lender from the borrower's default. These loans have a high loan-to-value ratio but they also have competitive interest rates. In order to qualify for an FHA loan, the property in question must meet FHA standards. There is no prepayment penalty and the loans are assumable.
VA-Guaranteed Loans-Such loans are only available to eligible veterans and their spouses and the home must be owner occupied. Eligibility depends on length of service and the years of service. There is no prepayment penalty on these loans and they are assumable after certain qualifications and a processing fee are satisfied.
Agricultural Loan Programs-The Farm Service Agency (FSA) is an agency associated with the Department of Agriculture that helps people who want to buy or run a family farm. The FSA can also provide loans to people in rural areas who want to improve single-family homes. These loans are available to families with low to moderate incomes and they have low interest rates.
If your looking for personal service and have questions regarding loans, be sure to connect with one of our mortgage specialists at www.homenat.com. Home National Mortgage has local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA.
There are many school districts in Central Pennsylvania, and here is a great summary by County to help you with your home search:
Lancaster County PA School Districts:
York County PA School Districts:
Lebanon County PA School Districts:
Dauphin County PA School Districts:
Cumberland County PA School Districts:
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Coldwell Banker Select Professionals, based at 1000 North Prince Street in Lancaster and with additional offices in Lebanon, Hershey & York can be reached at 717-735-8400 or at www.cbselectpros.com. Coldwell Banker Select Professionals serves the Lancaster PA real estate, York PA real estate, Hershey PA real estate, Harrisburg PA Real Estate, Lebanon PA real estate markets with local offices and agents.
See Coldwell Banker's New Home Communities Throughout Central PA!
Interested in Moving to Central PA? Let Coldwell Banker be your perfect partner.
Corporate relocation? Coldwell Banker is a Principal Central PA broker for Cartus Relocation
Coldwell Banker Select Professionals - We're Always Moving!
Visit www.cbSelectPros.com or Call 800-223-9690 today to get started.
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Serving Lancaster, Dauphin, Lebanon, York and Cumberland County homes for sale, real estate and related services such as PA mortgages. Choose Coldwell Banker for all your Central PA real estate needs
Searching for real estate in Central PA? Coldwell Banker® Select Professionals can help you find the home of your dreams, sell your property and get started with your mortgage. Serving Lancaster, Lebanon, York, Cumberland and Dauphin Counties, our expert team of real estate agents puts you, the customer, first every day. Trust the #1 Real Estate Brand - Coldwell Banker®, and work with a Pennsylvania real estate leader.
Buying a home can be an exhilarating yet stressful time. Qualifying for a mortgage, searching for a home online, touring open houses, deciding on a number of location and condition-related issues can overwhelm even the most diligent Central PA homebuyers. That's where Coldwell Banker® Pennsylvania comes in... 
When you're in the early stages of the home buying process, you may want to remain anonymous and watch the market from the comfort of your desk - no problem! With Our Home Retriever , you can track new listings of homes in your preferred neighborhoods and even download a Personal Retriever® Widget (a small piece of software that interfaces with the MLS to alert you when new listings come on the market). 
Once you're ready to ask questions and start viewing homes in person, it's time to contact a Coldwell Banker® Select Professional. Working with a professional buyer representative has it's advantages. The buyer agent will diligently search the MLS with a seasoned eye for you - setting up showings to be sure you get an early look at desirable homes. The buyer agent will advise you on condition and marketability issues of a potential home, offer assistance with the mortgage process, explain the title work required in Pennsylvania and help with arranging relevant inspections.
We're so confident that you'll have the best possible homebuyer experience that we offer a guarantee - the Coldwell Banker® Buyer Services Guarantee. Take a moment to read this simple promise...dedicated effort, honesty, loyalty, confidentiality and much more!
Selling your Central PA home can be one of the biggest decisions you can make in life - one not taken lightly. In this turbulent real estate market, choosing the right real estate company will likely be the most important choices.
The difference is marketing - who will market your home in new and innovative ways, making full use of the power of the internet as a source of home buyers? The electronic age is here - and your house absolutely must shine online.
We at Coldwell Banker® Select Professionals take great pride in our ability to get your house sold. We leverage the immense power of Coldwell Banker - the brand ranked #1 by consumers in terms of a company you can trust and in terms of dependability. Coldwell Banker® also earned top honors from the industry in innovation in home marketing this year. One thing's certain, when you choose Coldwell Banker® Select Professionals to sell your Lancaster PA home, Hershey home for sale, York PA real estate or Lebanon PA home, you get the very best the industry has to offer.
A great sales program is only the beginning. As a home seller you will also enjoy the comfort of knowing that every customer inquiring about your home will be promptly contacted and followed-up on, thanks to our highly efficient LeadRouter® call systems, which make an agent available all the time to handle property inquiries. In addition, our support staff and call center staff are courteous, knowledgable and on duty every day, for long hours to make sure your home is getting the attention it deserves.
With support like this from the national down to the local level, is it any wonder that your local Coldwell Banker® agent is so confident? Well, even better, we're so confident that you'll get unbeatable service that we offer our unique Seller Services Guarantee®. Take a look at this simple yet effective document here. If you're not satisfied, we'll make it right.
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