In today’s competitive real estate market, there are ways to help ensure that your offer is accepted by the seller. An important step is to get a pre-approval letter, which advises both your agent and the seller’s agent of the loan amount you qualify for. These letters are good for up to 90 days, so you have time to shop for and locate your dream home. Having a valid pre-approval letter in your hand from Wasatch Peaks Credit Union will help you stand out in a crowd of multiple offers without one.

    In this market, sellers typically look to accept cash offers first, then offers backed by conventional loans, followed by those backed by government loans, such as VA and FHA loans. The reasons for this are centered on ease of transaction and/or closing.

    Cash offers result in the shortest timeline, and conventional financing is the next best alternative to cash. Conventional lenders don’t require home inspections, but are subject to an appraisal. Buyers with a larger down payment or who make the highest offer are usually selected first. Government loans typically offer the lowest down payment, but have additional inspection and appraisal requirements. These often concern sellers as there is more possibility for the deal to fall through.

    Rest assured that our Mortgage Professionals have the knowledge and experience to help you select the best loan for you. Wasatch Peaks Credit Union offers a wide variety of mortgage products that can be tailored to your specific needs. Whether you are a first-time home buyer or a seasoned home-buying pro, Wasatch Peaks would like to be your partner in this important transaction.

    If you have questions about the home buying process and would like more information about our mortgage loans, visit us online at or call us today at 801.452.7881.

    Wasatch Peaks

    Written by Wasatch Peaks