'Your papers, please' must never be heard in America
House hunters in the Washington area, eager to lock in a housing payment at today's low mortgage rates, are bumping up against an unexpected obstacle: competition.
"Buyers should clear up any credit issues and make sure they have the cash for closing costs and a down payment," she said. "The bigger your down payment, the more realistic it is that your loan will go through."
Cover story: Strategies shift as buyers again face competition →
Ms. Hooks said listing agents and sellers often are concerned that the financing will fall apart before settlement, so she suggested finding a reputable local lender.
Cover story: Strategies shift as buyers again face competition →
