YFP 245: Getting Under Contract in a Competitive Home Buying Market
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Tony Umholtz, a Mortgage Manager for First Horizon, discusses getting under contract in a competitive home buying market.
Key Points From This Episode
- Hear about Tony\'s background and the work he\'s doing right now with First Horizon.
- How we\'re still at historically low-interest rates, even with the recent rise we\'re seeing.\\xa0
- Some context on the current market and why we currently have a housing shortage.
- Tony shares why it matters what type of loan you get.
- Important factors to consider when evaluating and considering the lender that you choose.\\xa0
- What an escalation clause is and some of the potential pros or cons to look out for.
- Tony comments on the recent trend of waving inspection contingency.
- Whether the earnest dollar amount is going up in this market and if offering more makes a difference.
- The three pieces that will allow you to get out of the contract and not lose your earnest dollars.\\xa0
- Some advice on what to do if you\'re looking for an option with a lower down-payment.
- Why there are so many cash offers out there at the moment.
- We talk about some great strategies to help out with the seller cost.\\xa0
Links Mentioned in Today\\u2019s Episode
- Learn More About First Horizon\\u2019s Pharmacist Home Loan and Start the Pre-Approval Process
- YFP Planning: Financial Planning for Pharmacists
- Schedule a free Discovery Call with YFP Planning
- YFP 136: The Ins and Outs of a Pharmacist Home Loan
- YFP 154: Getting a Home Loan in a Pandemic
- YFP 169: Helpful Tips for Getting a Mortgage
- YFP 191: 10 Common Mortgage Mistakes to Avoid
- YFP 204: The Current State of Buying, Selling, and Refinancing a Home
- YFP 216: Common Credit Blunders to Avoid When Buying a Home
- YFP 230: 5 Steps to Get Ready for a Home Purchase
- Apply for Pharmacist Home Loan
- Schedule a Free Call with Nate Hedrick
- YFP Concierge Service
- Homebuying Resources
- Your Financial Pharmacist Disclaimer and Disclosures