Different Perspectives: Chat with Ryan Beardsley

When it comes to buying or selling a home, it is important to be as prepared as possible. Whether you are an experienced real estate investor or a first-time buyer, the process of finding and purchasing the perfect property can be overwhelming. With so many factors to consider, including market research and understanding how interest rates may affect your purchase and financing options, it is important to know how best to prepare yourself.

In this article, Ryan Beardsley, loan officer at Fairway Mortgage, will discuss tips for buyers and sellers on how to be better prepared when it comes to the homebuying process. Ryan Beardsley has been in the mortgage industry since 2012. He spent 8 years in the military, where he developed a passion for helping veterans and first-time homebuyers navigate their way through the sometimes complex process of purchasing a home. We’ll also cover the importance of understanding market trends and current interest rates and how they can have an impact on your decisions. Finally, we’ll explore alternatives like two to one buydowns and how they can help reduce payments temporarily.

Pay Off Debt, Get Pre-Approved Early:

According to Ryan Beardsley, loan officer at Fairway Mortgage, it is important for buyers and sellers to get pre-approved for a loan and pay off any debt as early as possible in the homebuying process. Doing so may help you secure a better deal and ensure that the process goes smoothly.

“When it comes to getting pre-approved, it's something that people should do early on in the process,” said Beardsley. “I think what people don't understand is just how important it is to get started early when considering mortgages or refinancing options.”

Beardsley also recommends paying off debt before getting pre-approved, as this will help you in the long run. “Having a good credit score and no debt is definitely beneficial when it comes to getting approved, especially for those who are looking to buy or refinance their homes,” Beardsley said.

Know the Market, Understand Interest Rates:

Beardsley emphasizes the importance of understanding the market and knowing current interest rates when considering buying or selling a home. Taking the time to research and understand these factors can help buyers and sellers make an informed decision that is best for them.

“It's important to do your own research too, so you understand what kind of market you're in, what kind of prices homes are selling for, and how fast homes are selling,” Beardsley said. He also urges clients to understand current interest rates and their potential impact on your purchase or financing options: “It's important to be up-to-date with the Federal Reserve's guidance on interest rates, so you know what kind of rate you're looking at and how it may affect the outcome of your purchase or financing decision.”

Alternatives to Consider:

For those who are looking for alternatives to traditional mortgages, Beardsley suggests considering two to one buydowns. This option can help reduce payments temporarily, making it a great option for those who need some flexibility in their financing.

“The two to one buydown is a fair deal, and it can help temporarily for those who may be looking to refinance later on,” said Beardsley.

By researching your options, understanding current market trends, and preparing ahead of time, buyers and sellers can ensure they make the most informed decision when it comes to purchasing or selling a home. Thank you to Ryan Beardsley for his tips and insight!