So, you?ve found THE perfect home. It?s all you dreamed of and more. You need a mortgage and don?t know where to start. Ask for referrals! It is important and often not easy to find a lender, so ask friends and family and your real estate agent for help. Inquire at your local credit union whether or not you are a member. Go to www.ncua.gov to find a good one. And, whatever institution is your choice, good customer service is a must!
Here are some tips from our real estate professionals at Maxfield:
- Calculate your down payment. Aim for at least 20 percent of the purchase price to avoid having to buy private mortgage insurance.
- Some financial institutions offer special deals for first time home buyers or individuals with outstanding credit.? Make sure you inquire.
- Be sure to get quotes from at least 3 different banks. Shop around! Be sure to include all fees in your estimate.
- A loan officer should be able to take the time to explain all costs every step of the way. The loan office should also explain if it is an option, as well as advantageous, for you to pay a point (one percent of the loan amount) or more up front so it costs less in the long run.
If you need futher advice or want to explore other financial possibilities, please call us at Maxfield Real Estate. Our real estate professionals deal with banking and lending institutions regularly and can help you to understand the nuances of getting a home mortgage and answer any questions you have.
This entry was written by , posted on February 11, 2013 at 1:51 pm, filed under Buyer Resources, Home Buyer's Advice, Homeowner Resources, Homes for Sale NH, Maxfield Real Estate and tagged Buyer Resources, Madison NH Real Estate, Maxfield Real Estate, Mortgage Rates. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Comments are closed, but you can leave a trackback: Trackback URL.josh hamilton Susan Rice American Airlines the Who jon bon jovi jon bon jovi Kliff Kingsbury
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