Real Estate Daily Blog

Financing details have to be included in your offer so that the seller can evaluate them. The size of your down payment is part of the financing details that you need to provide; the larger the size of your down payment, the more likely the lender will approve your mortgage. Your offer should also state what kind of mortgage you’ll be getting (fixed rate or adjustable rate). Protecting yourself is another reason why you should include your financing information in your offer. Should the interest rate suddenly rise quickly, you might be paying a higher mortgage than you expected. Placing a maximum acceptable interest rate in your offer protects yourself from that instance.