We’ve talked before about the fact that bidding wars are happening in New Orleans real estate. Did you know that your financing can play a role in whether or not you successfully purchase the home you want?
It absolutely can.
What can you do to position yourself to make a stronger offer?
Saving money for a larger down payment is a really good first step. The higher your down payment, the more likely you will be able to qualify for a conventional loan instead of FHA/VA.
If you have the funds you need for a bigger down payment, but your credit score needs some improvement, talk to your lender about how to increase your score in order to use conventional financing.
The simple act of being able to make a cash or conventional offer puts in a better negotiating position than buyer who can’t do the same.
Searching for the right place in New Orleans to call home? We’ve got them all, right here. Thousands of homes for sale, experienced agents and someone waiting to help you today. Call us at 504-327-5303 or contact us here.