<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1955936548054264&amp;ev=PageView&amp;noscript=1">
Get Started! Call 888-562-6200 phone icon Loan Servicing Center

Five Common Challenges for Home Buyers in a Seller's Market

< Back to Articles | Time to Read: 5 minutes

The real estate market is still red hot! And the current seller’s market shows no signs of slowing down as we head into spring. While this has been great for those looking to sell, it’s presented a fair share of challenges for home buyers.

We happen to believe that every challenge is just an opportunity in disguise, which is why we’re offering up easy solutions to five of the most common challenges home buyers are facing. Read on to find out how to land your dream home, no matter the market!

Challenge: Not Knowing Where to Start

If you don’t know where to start when buying a home, you’re not alone! Many people are trying to navigate the process while working, raising families, and planning for the future. With such busy lives we understand how important it is to keep things as stress-free as possible when buying!

Solution: Home Buyer Edge by Churchill Mortgage

Home Buyer Edge is a Churchill exclusive program that wraps around the buyer to make home buying as simple as possible! Here's what it can offer you:

  • Lightning-fast Pre-Approval: Apply within minutes on the Churchill App and start shopping for your new home the same day!
  • Home Buyer Consultation: Work with your Home Loan Specialist to define your budget and goals to find the smartest mortgage plan for you.
  • Churchill Certified Home Buyer: Compete against cash offers and multiple-offer situations when negotiating.
  • Rate Secured: Protect yourself against fluctuating interest rates.
  • A Trusted Advocate: Your home loan specialist will call the seller's agent on your behalf to show what a worthy candidate you are.
  • $5,000 Seller Guarantee: If financing issues take place, the seller can receive $5,000 in addition to the earnest money provided by you as a buyer. This gives the seller peace of mind and makes your offer look more attractive!
  • Close Faster with Less Stress: This program can help you move through closing quickly, since much of your paperwork will be done before closing day!

Challenge: Lack of Security in a Pre-Approval

In today’s housing market you have to move quickly. To do that, it’s important to know your financing is ready to go. A pre-qualification moves quickly, but it doesn’t verify your income or assets. With our lightning-fast pre-approval you will submit documents for verification so you can start shopping, but you'll still want to ensure that your financing is secure. As homes go faster than ever and people continue to put in offers over asking price, sellers need to know you mean business. And that means your financing needs to be reliable.

Solution: Become a Churchill Certified Home Buyer

While a pre-approval looks good on paper, it doesn’t mean your financing is secure. Becoming a Churchill Certified Home Buyer gives you the confidence to make an offer on a home. You’ll know up front that you’ve been conditionally approved by an underwriter. This puts the home seller at ease, knowing your financing will go through when it’s time to close on the sale. This is the gold standard of pre-approvals and is your best option in such a competitive market.

Challenge: Inventory Is Low

Right now, home buyers everywhere are crossing their fingers and hoping to win bidding wars. With so many people vying for homes, it’s difficult to not only find something you love, but to then get your offer accepted. It seems in many markets that homes are off the market as quickly as they’re put on, leaving potential homeowners frustrated and confused.

Solution: Expand Your Preferences

This may not be the answer you hoped to hear, but it could be very beneficial to become a homeowner! By expanding your preferences, you can open yourself up to more home buying opportunities. What do we mean by expanding your preferences?

Everyone has a wish list when it comes to buying a home which is great! Sometimes, though, the list of things you want can get in the way of becoming a homeowner. Go through your list and see what you may be willing to let go of so you can begin building equity.

Here’s a few questions to ask yourself:

  • Could you move further out of the city to find more affordable options? Taking your commute, budget, and lifestyle into consideration, you may find moving further away from work or your most-preferred neighborhood gives you more options for buying a home.
  • Would you take on a home that needed a few extra upgrades to get your offer accepted? While there are always red flags to look for, sometimes a fixer-upper can end up being the perfect home!
  • Could a townhouse with good square footage satisfy you, especially as a first-time home buyer, even if you lose some land? Many townhomes and condos offer the same amount of space as single-family homes, though they lack acreage. If having outside space isn’t at the top of your list, branching out could help you land a home quicker. Plus, this could always become a great investment property down the line!

Challenge: Interest Rates Change

With so many people competing for the same homes, your home search may take longer than you were hoping for. Because of that, many potential home buyers fear interest rates may change before they put an offer in, resulting in a higher monthly mortgage payment.

Solution: Become Rate Secured with Churchill Mortgage

It’s easy to understand why fluctuating rates can cause anxiety. That’s why Churchill caps your interest rate for 90 days with our Rate Secured program. This allows you to breathe easy knowing you have three months to find a home without worrying about your interest rate going up. And if you don’t put an offer in during that time? No worries—We will reset your rate for another 90 days!

                                I’m ready to get started! Connect me with a Home Loan Specialist.

Challenge: Not Knowing Who to Work With

Figuring out who to work with during the home buying process in today’s market can be overwhelming. Between social media, the opinions of others, and the ever-changing economy, it can be tough to know who to turn to for accurate advice and guidance.

Solution: Work with People You Can Trust

You want to work with people who are focused on doing what’s right for you. At Churchill, we believe in putting people over profits. That means our Home Loan Specialists go into every encounter with the heart of teacher, making sure you feel confident with every step you take toward buying a home. Whether it’s a question about how home loans work or just increasing your knowledge on the mortgage and real estate terms being used, our goal is to guide you.

This goes for your real estate agent as well. Choosing a Realtor® who’s on your side is so important in such a competitive market. Look for someone who has a wide network and understands what you’re looking for and what you’re comfortable spending. Never be afraid to speak up for what’s best for you, the right team will understand and have your back!

Part of what sets us apart from other mortgage companies is we want to build a relationship with you that outlasts your loan. If you’re interested in learning more about Churchill and how we can help, reach out! Expert advice is one click away.


Connect with a Mortgage Expert!

Please Enter a Name
Please Enter a Last Name
Please Enter a Valid Email Address
Please Select a State
Please Enter a Valid Phone Number

Thank You!

We have received your request, and are matching you with a Home Loan Specialist. You will hear from us shortly!

You can also get in contact with us at 888-562-6200.

By submitting this form, I/we agree to your Privacy Policy Terms of Use and authorize Churchill Mortgage Corporation and/or their Preferred Provider for our area and/or The Churchill Agency to receive the above information to assist in obtaining a home loan.

I/we also authorize Churchill Mortgage Corporation, The Churchill Agency and/or their Preferred Provider for our area to contact us regarding but not limited to mortgage and insurance services and products via telephone, mobile phone (including through automated dialing), and/or email, even if telephone numbers or email I/we provide are on any Do Not Call/Contact Registry, such as corporate, state, or the National Do Not Call Registry. The submission of this form does not constitute in any way a formal loan application or a commitment for a loan. By communicating with us by phone, you consent to calls being recorded and monitored. By participating, you consent to receive text messages sent by an automatic telephone dialing system. Consent to these terms is not a condition of purchase.

Connect with a Mortgage Expert!

With so much of your hard-earned money on the line, seek advice from a trusted home loan expert and have the confidence that you are in qualified hands.

social proof logos