The best mortgage advice I can give every buyer is this:
“Don’t Start Looking for Your New Home
Until You Know Exactly How Much You Want to Spend!”
Find your comfort loan for your house payment. You may be approved for an amount that may be too high for your budget! Due diligence is very important when researching your mortgage. Find out exactly what your monthly payment will be including: Principle, Interest, Taxes and Insurance. Hire someone you trust.
On www.MarianneDrenik.com I have provided a Mortgage Calculator, A Rent VS Buy Calculator, A Daily Loan Rate Advisory Site and a Mini Loan Application. Explore these valuable tools!
If you do not have a Loan Officer, I have also listed a few that I have found to provide excellent Customer Service and Quality Loan Products. Give any of them a call to compare programs and rates!
Why Get Pre-Qualified?
In the prequalification process you will not only find out how much you are qualified for, you will also know how much you will need for a Down-payment. You will receive a Good Faith Estimate to let you know approximately how much your taxes will be and a list of estimated closing costs for your mortgage.
In comparing rates, you can negotiate the very best rate and terms of the loan possible.
You will need your pre-approval or approval letter from an approved mortgage company to submit with your offer on your home. This strengthens your position as to be ready to buy!
So start your Pre-Approval Process Early to make it a smooth transaction when you find your next property. Be prepared!
Keep reading to find additional mortgage lenders and begin your search!