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Best Time to Buy?

I am working on my credit at the moment. I was pre-approved for $390k in June based on my FICO 608 at the time. Purchase price for the homes I am looking at is $499 average, so I know there is some work I can do to improve. But I am worried that with the way rates are headed, I might have an issue getting approved later due to price increases on the homes Im looking at. Is this a valid concern? Should I settle for the pre-approval and look at a home in that rage NOW? Thanks for the advice. by kreal_talknation524 from Sacramento, California. Jul 25th 2018 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

You should absolutely be looking at what you can buy now.. If it takes you 4 months to improve your credit scores, which might net you 1/4% reduction in rate, vs. overall market going up 1/5% and housing prices rising at the same time.. the wait can only cost you more.. Let me know if I can help.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

Jul 27th 2018
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