LS Decor and Design

WHAT IS AN APPRAISAL
An appraisal is when a lender orders a professional evaluation of the property to determine its market value.

It’s not about what you offered.
It’s about what the property is worth in today’s market.

Lenders use this value to decide how much they are willing to finance.

WHY APPRAISALS MATTER
It’s the property appraises at the purchase price -great!!

If it comes in lower than the purchase price, the lender will only finance based on the appraised value.

That’s means the buyer may need to bring in more money- or the deal could be at risk.

This is where many transactions get stressful.

HOW TO PROTECT YOUR DEAL
Before submitting an offer , make sure:

• The financing is properly structured
•The buyer’s ratios are strong
• The property value makes sense.

Appraisals are not just a formality- they can determine whether your deal closes smoothly.

When buying a home, the minimum down payment depends on the purchase price.

• 5% on the first $500,000
• 10% on $500,000-$1,000,000
• 20% on $1,000,000 and up

But the minimum isn’t always the best strategy- every situation is different.

It’s not just about how much money you have saved.

Lenders also review the 90 days history of your funds, whether the money is gifted, and if proper documentation is in place.

You also need to account for closing costs, which typically range between 1.5% to 4% of the purchase price.

Proper planning prevents last minute delays.

Before you start house shopping, it’s important to know your real numbers.

How much down payment do you need?
What will your monthly payments look like?
What is your true buying power?

Message me and I’ll help you structure it properly.

Here are 3 common mistakes that can derail financing right before closing.

1. New Car Before Closing 🚘.

Lenders will re-check your credit before funding. A new 🚗 loan increases your debt ratio and can reduce your approval amount- worst, decline the deal.

2. High Credit Usage 💳.

Maxing out credit cards- even temporarily- can drop your credit score fast. Using more than 30% of your limit will lower your score, increase your debt ratio and weakens your approval.

3. Income Changes.

Switching jobs or going from salary to commission. Any income change during the approval period can require re-qualification.

From pre-approval to closing day, financial stability is everything!!!

Before making ANY major decision- ask first.

This master bedroom features soft textures and neutral tones, highlighting comfort and everyday effortless luxury. A calm, inviting space designed for rest and relaxation. 🤍

Kleinburg homes deserve Kleinburg luxury, take a look at this beautiful modern living room that creates a timeless and welcoming space.

This thoughtfully staged bedroom brings warmth, balance, and functionality to the home 🏠✨

Designed to impress and built for function ✨ Swipe to see the beautiful details of this custom main and spice kitchen 🍽️

Turn- key ready!!!!

Turn- key ready!!!