Olivia Russell

Hi Daryl, You are in Surfside SC, which is a tourist-driven area with lots of snowbirds. Yes, the interest rates are important, the lower the interest rates the more buyers are able to afford a home, and with that, the homeowner gets better deals. Currently we are not getting enough homes on the market to satisfy the influx of people moving here. Especially those under $300k. So for you, being in Surfside, you are in a superb location as many people that are moving here want to be close to the beach. Tourist season is the busiest season for us. We are dealing with a lot more out-of-state customers. I would think the sweet spot is Spring through Fall, with the school breaks being the best times. My office is in Murrells Inlet. Feel free to contact me. I would be glad to meet and answer any questions you may have.

Hi Dana! While I'm not a loan officer, I'm a real estate agent who has guided many buyers through this process. In my experience, a lot of buyers prefer to browse homes before speaking with a lender to "see what's out there", but that is actually backwards and can end up wasting a lot of time for everyone involved. Getting pre-approved first gives you an exact roadmap and solid budget before you start touring. A few key takeaways for your situation: A lender will look back up to 7 years. Sometimes to show your diligent work to improve your credit standing, and if it is not that good, they will ask for good reasons to why this happened ( unexpected family emergency, vs. wanted to go on a vacation to Bali) and have you back it up. BUT they focus mainly on the most recent 24 -36 months. Payment history (2-3 years), Collections & Charge Offs ( 7 years) Chapter 7 Bankruptcy (10 years) , Foreclosures (7 years) Lenders are more interested in how you have managed your debt over the last 2 years, than older , Isolated credit hickups. Strong on-time payment history over the past 24 months will usually offset any minor issues from further in the past. Other things they care about: Debt-to-Income (DTI) & Payment History: Lenders focus heavily on your overall DTI (typically aiming for 36%"43%) and your track record of on-time payments. Hold Off on Paying Debt Unadvised: I strongly advise against paying off additional debts or collections until you speak with a mortgage broker. Keeping your cash liquid might serve you better, whether that's using funds to buy down your interest rate or boosting your reserves. A broker will give you a customized plan for your file. Loan Programs: With $27k saved, an FHA loan (requiring as little as 3.5% down) is a strong option. USDA loans offer 0% down, though income limits do apply. Find the Right Partner & Read Reviews: Shop around for a mortgage broker you genuinely enjoy working with. Since they'll be digging deep into your personal finances, it's vital to choose someone you like, trust, and feel comfortable talking to. Be sure to read online reviews from past clients to see how reliable and communicative they are throughout the loan process! Good luck to you. I am excited for you! Livy