In this Episode Marion Rea Speaks with Jay Taylor about different lending options for a first time home buyer.
2021 vs 2022 Mortgage Benefits
2022 :
Benefits
Reduced competition
More inventory
Fewer multiple-offer situations
Buyers able to win at a modest offer price
No appraisal guarantees
No waiving inspection
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Drawbacks
Higher rates
2021
Benefits
Low interest rates
Drawbacks
Insane competition from other buyers
Limited inventory
Multiple-offer situations on nearly every home
Having to offer 110% - 1209 of the list price to win
Appraisal guarantees
Inspection waivers
