If only shopping for a mortgage was as much fun as shopping for shoes — or a new car or smartphone. Choosing a loan program and working out the options with each one can seem daunting, but make sure to take an afternoon to go over your options! Saving a few bucks each month is definitely worth it in the end.
To help make it a little easier on you, I have made a new series going over everything you need to be aware of with your mortgage, and how to choose the best one for you.
Week 1: What to Say When You First Contact A Lender
Knowing the lender-jargon and what to ask can be a big part of getting off on the right foot.
Week 2: How Much Can You Really Afford?
Make sure you look a little deeper! Don’t just go off of the pre-approval amount, decide what you are able to comfortably spend monthly.
Week 3: How Much Do You Really Need For A Downpayment?
It’s so important to know your numbers, we don’t want any surprises when we get to the closing table!
Week 4: How Your Credit Score Can Impact Loan Options
Different credit scores will make you eligible for different loan programs. It’s important to know what your options are!
Week 5: Why The Interest Rate You See Online is NOT the One You’ll Get
Big banks and lenders seem to advertise very low rates when compared to local lenders… but make sure you read the bottom line and check the fees!
Week 6: Are Arms a Good Mortgage Option For You?
Arms vs. a fixed rate… what is best for your specific situation?
Week 7: Buy AND Renovate with One 203(K) Loan
So many first time home buyers don’t know about a FHA 203K loan… but they should! You can buy a home and wrap the needed renovations into your mortgage.
Week 8: Should You or Shouldn’t You Avoid PMI?
Who wants to pay PMI, right?! Well… maybe it’s not as bad as it seems
Week 9: Get The Best Interest Rate for YOU
What you have control over that can impact the rate you get.
Week 10: Should You Use 401K Money for a Down Payment?
For some people, this is the best option! Let’s go over the pro’s and con’s of doing this.
As you can see, there’s a lot that you can do to get the best mortgage for you… and it varys person to person. So make sure you stick around and go though all of these options before settling on a mortgage. It’s well worth it to take an afternoon and go over your options! Feel free to email me at mccall@youragentmccall.com with any questions and to get started!
