phone callenvelope
One of the most important steps to take from the very beginning is to find out what kind of mortgages are available to you, and how much you will actually qualify to borrow. There is nothing more disheartening than to find the perfect house, only to discover that you do not qualify for the purchase price. You can save yourself this heartache by visiting a mortgage broker or lender ahead of time, to get pre-qualified for a loan. This will allow you to set the search parameters to reveal only properties that you can afford. In addition, being pre-qualified will show home sellers and agents that you are serious about purchasing property, and will put you in a better bargaining position. Home sellers will often negotiate prices if they can be guaranteed a quick sale and closing process.

Shopping around for a home loan or mortgage will help you get the best deal. A mortgage is a product, so the price and terms may be negotiable. You’ll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars.




Mortgage Rate Information

  • Ask each lender and broker for a list of its current mortgage interest rates and whether the rates being quoted are the lowest for that day or week.
  • Ask whether the rate is fixed or adjustable. Keep in mind that when interest rates for adjustable-rate mortgages go up, generally so do the monthly payments.
  • If the rate quoted is for an adjustable-rate mortgage, ask how your rate and loan payment will vary, including whether your loan payment will be reduced when rates go down.
  • Ask about the loan’s annual percentage rate (APR). The APR takes into account not only the interest rate but also points, broker fees, and certain other credit charges that you may be required to pay, expressed as a yearly rate.*
Preferred Lenders
Tiffany Pack: Dream Key Real Estate is rated 5 out of 5 based on 2 Google+ reviews. | Sitemap
© 2018 Tiffany Pack, Realtor Athens AL at Dream Key Real Estate · All rights reserved