Tools to Help Home Buyers in a Low-Inventory Market

Prospective home buyers can shop with confidence and increase their chances of having an offer accepted in today’s competitive market, thanks to two programs offered by Prosperity Home Mortgage, LLC.

The Prosperity Buyer Advantage provides customers with a pre-approval letter that states their qualification and price point. It’s an actual commitment letter from an underwriter that a buyer can present to a seller immediately.

That’s different from a pre-qualification letter, which only states a customer is qualified if, and when, the information is verified by the underwriter. The Prosperity Buyer Advantage verifies this information upfront—buyers are approved for a max amount before they even pinpoint a home. When they find the right house, having this pre-approval lets the seller know the deal is more likely to go through smoothly and quickly. There’s also the FASTRACK option which, for certain loan products, further expedites the closing process.

Lock, Shop & Home is a second program designed to help buyers. It locks in the lowest available interest rate for up to 90 days on a Buyer Advantage pre-approval.

This can save borrowers money if rates rise (as they are expected to) and give them more time to keep looking if it’s taking longer to find a place to buy.

Searching for the right home takes time, but using tools like the ones offered by Prosperity Home Mortgage, buyers can give themselves a better chance of saving money and securing the perfect place.