Bethesda Home Loan Mortgage

Refinance, Purchase, Rental Property, Condos, Business Owners

DC Mortgage News Digest

Mortgage Professional Newsletter

Rockville Mortgage News

11/13/11 - It's important to understand the dynamics of the market we are in. For Rockville, which has traditionally been a "move-up" market, it is critical to note that there are 3 distinct needs if you are considering financing.

1.) You need a lender who has the ability to work with cases where the buyer is stretching for the new purchase (higher ratios, lower down payments, credit issues)

2.) You should be pre-approved, with financing in hand, before making any offer, as there are generally multiple offers on desirable properties. You must be ready to act immediately. Home sellers will not gladly accept contracts which are contingent upon obtaining financing. There are plenty of buyers without contingent offers.

3.) Use a local lender. Listing Agents have come to know that out of town lenders are not sympathetic to time frame requirements listed in the contract. In addition, out of town lenders can be difficult to reach for last minute changes. There are plenty of Rockville-based, mortgage lenders, including us.

This map shows the Bethesda real estate market