Mortgage Monday: Mortgage Tip For First Time Home Buyers

Mortgage Tip For First Time Home Buyers

When you are ready to get serious about buying that first home, find a loan professional that can assist you with your purchase. Just like your real estate professional, you need to trust them and like them. Feeling comfortable and being able to discuss your concerns is paramount. Be sure to ask questions about how they handle difficult situations, such as an appraisal coming in under the agreed upon sale price. Do not settle for just a low rate. Experience counts in this business. Assisting you in closing the deal should be the primary goal.

Be sure to inform your loan officer about anything and everything in your financial situation that might have an impact on getting qualified for that loan. How much is in your 401K, for instance. How many outstanding loans and/or credit card charges you may have. Be 100% honest with them so that they can get you qualified and get your loan underwritten.

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