2022 BUYING in a SELLER'S MARKET Pt. 2 (Tips from a MORTGAGE BANKER)

As a mortgage banker, I've helped hundreds of buyers compete and WIN contracts in this seller's market without taking unnecessary, potentially costly risks. Buying a home in 2022 is DIFFICULT but with the right strategy and a measure of patience you can land a contract on a home you'll love. In this second video on the subject, I go into detail on how to incentivize the seller to pay attention to your offer even if you aren't offering the most money. Closing super fast, offering a large amount of earnest money and expanding your search criteria is key.

Tip #3 - If you obtain a loan commitment from me before landing a contract, you can offer the seller a closing date as fast as 14 days from contract acceptance. A motivated seller may take less money fast vs. more money later.

Tip #4 - By making a very large earnest money deposit, your offer will get noticed. Having skin in the game carries a lot of weight with a seller because they know if you don't fulfill your end of the bargain, they get to keep the cash.

Tip #5 - Expand your horizons and consider homes that don't fit your initial search criteria. In this game of supply and demand, you are at a competitive disadvantage if you are only considering the same types of updated homes in prime areas...because that's what everyone else wants too! I share a success story in the video from a client that took my advice and ended up very happy with the outcome.

Tip #6 - Taking a break from the search may be the best course of action for you. As mortgage rates continue to rise, this will likely apply pressure on prices to stabilize (or at least not to rise as quickly!) Making housing market predictions is often akin to reading tea leaves, but regardless of what happens in the market, adjusting your timing may be key to achieving your home ownership goal.

Mark Anderson, NMLS# 374393. Vice President/Mortgage Banker at Paramount Bank, NMLS# 551907. Equal Housing Lender. FDIC Insured. Paramount Bank is licensed to lend in ALL 50 STATES. Call or text me 24/7 to apply 314-599-0511 (that's my actual cell phone, not some sort of 'lead capture' bot.) Email me at: manderson@paramountbank.com. Please comment with your questions on the video - I aim to reply to all comments with answers.

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The lowest rate for your mortgage varies based on a lot of factors: credit score, loan amount, appraised value, down payment, property type (single family residence, condo, multi-family), income, etc. In addition to offering rates I believe you will find to be very competitive, I also help folks to optimize the various factors involved to obtain the best rate possible.

*I chose the domain, BESTMORTGAGEANSWERS.COM, to differentiate myself from the average mortgage loan officer by emphasizing the value I bring to my clients as an educator and consultant, not as a salesperson.

OTHER VIDEOS YOU MIGHT LIKE:

How Are Mortgage Loan Officers Paid?
https://youtu.be/T3i3JDk_mbE​​

Debt-To-Income Ratio Fundamentals
https://youtu.be/SE68DnCD3oA​​

About Me: I have worked as a mortgage loan officer since 2005 and have closed nearly $500 million in loan volume, all across the country. With my zero-pressure, consultative approach, I'm a great fit for first time home buyers, but also for anyone that is looking for high quality, transparent mortgage information. Paramount Bank is licensed to lend in all 50 states. I'd love to hear from you, whether you are looking to purchase a home or refinance. I live in St. Louis, Missouri, with my wife Rachel, along with our 3 cats and 13 chickens.

About Paramount Bank: We are a mortgage-focused bank and direct lender, with access to nearly every mortgage program in the universe: Conventional, FHA, VA, Jumbo, Construction, Renovation, Bridge Loans and specialty programs for self-employed borrowers.

If you are reading this far down, I'd like to thank you by inviting you to TEXT me 'JOIN' to 314-599-0511. I'm experimenting with a new platform that will allow me to deliver a select number of people CUSTOM daily OR weekly rate updates for your unique scenario.