It is important to find the right mortgage product and program when you purchase a home. Here are few tips and strategies to help you prepare for your home purchase and avoid unnecessary steps:
Our mortgage planner can help you:
– Finance your home based on your monthly payment comfort level
– Determine how much cash to use as your down payment and how to allocate your funds
– Understand your before and after tax monthly payments
– Restructure your other debt to free up more monthly cash flow which enables you to improve your home buying budget
You may be able to get a better mortgage rate and more favorable loan terms by restructing some of your credit card balances, auto loans, etc. Our mortgage planners can help you correct errors on your credit report and determine which balances to restructure or pay off, in order to improve your credit score.
It is recommended to obtain a full approval/ loan commitment from our mortgage planner before you even start looking for a home. Most pre-approval and pre-qualifications are not considered a bona fide commitment from a mortgage lender that in fact has approved you for financing. Many real estate transactions have been cancelled because buyer, sellers and realtors have counted on pre-qualification letters that proved meaningless.
It is far better to have a Mortgage Planner who can help you implement the best strategy with competitive interest rates than for you to shop for the lowest rates with the wrong strategy.
It is always wise to base your decision to buy or not buy on facts that would pertain to your geographic area, versus the whole nation. Our professionals can help you evaluate conditions in your local real estate market, such as local housing inventory, local unemployment rate, income speculations & development projects and other factors that can help you make intelligence choices on weather to buy or not.
Our professionals will help you understand the costs involved in home ownership, and help you develop a financial strategy for dealing with these costs ahead of time.