Choosing your mortgage company is one of the most important decisions you can make when you decide to purchase a home. There are a lot of options out there and it can be a bit confusing, so let me outline a couple of major considerations:
You and your financial situation are unique.
There are a ton of loan options, and your best bet is going to be to use a vendor who has access to a variety of solutions to first your unique financial situation.
You may be inclined to go to your normal bank for a mortgage. They won’t give you a better rate or a better loan because they have your money, unless you have millions stored with them! Big banks can’t necessarily offer you the best deal, they can only offer you their deal.
Instead, consider a mortgage broker or a lender who can offer out-of-the box loans. It’s pretty amazing how flexible lenders can be when considering your credit score, history, income and debts.
A mortgage is more about what you can afford to pay every month than it is about how much house you can afford when you buy.
It may seem like a good idea to use an app or an online company to get a loan, but they will never take the time to guide you about your monthly expenses.
A lot of people approach getting a mortgage with the hope of being able to qualify for the most expensive house possible. And there are financial institutions that will happy pre-approve you for just that! That sounds great until you’ve settled into your new home and are balancing your budget. The last thing you want is to over-extend yourself and end up with Buyer’s Remorse after you’e moved in!
Just because you have a contract on a house, doesn’t mean you’ll close!
Getting pre-approved for a loan is only the beginning of the process. There are a thousand unexpected things that can pop up to jeapordize your purchase, and you want to ensue that the team of advisors that are working to secure your property will be able to get the job done.
That’s why it is so important to work with an individual loan officer who will listen to you and take the time to prepare you for what to expect. Your lender and your Realtor® work closely with the title company through your transaction to make sure that you close.
Your home is where your LIFE happens. Buying a home should be the most exciting event of your life! Let professionals like me do all the heavy lifting so you don’t have to deal with the anxiety.
Call me today and I can recommend loan officers that will take the best possible care of you and your biggest purchase.
Heather E. Towe, Realtor®
CRS®, CLHMS®, e-PRO®, PSA®
561-806-8550 | heather.towe.gmail.com
Licensed to Sell Real Estate in Florida