Getting A Home Loan
When beginning a home search, it is typical of many people to not want to “bother” a professional until they are certain of their plans. Of course this is the exact opposite of what home buyers should do.
The value a professional mortgage lender can add to your decision making process is above and beyond what you might expect. Mortgage lenders can help streamline the home buying process by providing a variety of scenarios for the purchaser to consider.
Scenarios might include loan programs that will allow the purchaser to buy more house now while initially paying less for it on a monthly basis. Downpayment issues can also be resolved before getting to far into a situation that won’t work.
Most good mortgage lenders have multiple suggestions on how to finance your home. As in most cases there is normally more than one solution. Finding the solution that is right for you takes extra care and attention, but in the end it will be worth the time spent.
The best tip for finding a good mortgage lender is to ask a real estate professional. Since lenders are not licensed and controlled in the State of Texas, it’s very easy to run into one who is not experienced. The best way to find a reliable, trustworthy lender is to ask for a referral. Using someone who can be counted on to communicate with you and your Realtor is of utmost importance to the process and for your piece of mind.
Starting your home search with a “pre-approval letter” in hand, is the best strategy for maintaining your bargaining power with a seller, when you finally find that “right” home.