Shopping For Mortgages
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The right mortgage is essential to the buying process.
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Finding the right mortgage is a very
important part of the buying process.
There are many loan programs available and
finding the one right for your specific situation can
save you thousands in the long run.
You have to consider not only the interest rate
the lender is charging, but the closing costs.
The length of
time you will own the home is important too, that could
determine the type of loan you should secure. I only
recommend lenders who I know to have proven good service and have
solid reputations in the industry, give me call and I
will help you get the process started. |
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Interest rates, loan costs and
financing programs vary from lender to lender. So make
sure you obtain a good faith estimate from 2-3 lenders. A good faith estimate is a disclosure from the
lender on the interest rate and associated closing
costs. By comparing several, you will be able to determine which
lender has the best rate and fees. Always make sure that
each lender is providing quotes on the same type of loan
program so you get a comparable comparison. I work with
several lenders who can help you decide what loan
program is right for you, so give me a call and I will
provide you with their names. |
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Pay attention to the loan terms you are agreeing to. If you are getting an adjustable rate mortgage,
make sure the lender explains when the adjustment will
occur and how much more your payment will be. Does your loan have a pre-payment penalty and
why? If the loan program you want has a pre-payment
penalty, you need to make sure you will not be selling
within the penalty time frame and if you do, how much
will it cost you. There are many different loan programs available,
some have very attractive rates, but you need to
understand the terms before signing. |
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My job as your real estate agent is to help you find the
right house and help you through the mortgage process.
There are many choices available with different
interest rates, closing costs and terms.
I have been through the loan process many times
and you can count on me to answer your questions and
give you advice.
Together we can decide on which loan program is
the best for you. |
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