Checking The Pulse Of The Kansas City Real Estate Market

Even with a solid down payment and good credit scores, home buyers are being grilled by mortgage lenders before their home loan are finalized. If you haven’t purchase a home in Kansas City, Johnson County Kansas, Overland Park or the surrounding area the past couple of years, the process is sure to be unlike the process you last went through. Liar loans, among many other “creative financing” tactics, have become a thing of the past.

If you are credit score challenged, you may not get that loan. If you do, there’s a good chance you’re going to have to jump through some hoops and wait to hear if you qualify to purchase an area home. This is why Kansas City Realtors won’t start working with a buyer until the buyer has gotten Pre-Approved with a quality local lender. Thinking of working with that online loan officer/company who competed for your business? Not if you work with my group. The last two home buyers who were Pre-Approved through companies like that ended up getting turned down for their loan AFTER we went under contract. Those lenders whipped out weak pre-approval letter without doing any legit research into those buyers qualifications.

So you can see that, not only is it critical that you get Pre-Approved, but you should do so with a loan officer who has an actual office here locally. A lender who knows our market and has a reputation to uphold is much more likely to do their due diligence in providing a valid Pre-Approval letter to home buyers. Thinking about making an offer on one of our listings and doing it without submitting a legitimate Pre-Approval letter? We advise our sellers to not consider any offer that doesn’t come in with a Pre-Approval letter where the lender has run the buyer’s credit and verified the buyer’s income and debt ratios.

Posted by Jason Brown