Here are some of the most frequently asked questions that I receive about getting a mortgage. How do interest rates affect my mortgage? Should I wait until I have 10% to 20% for my down payment? How do I know which mortgage loan option is really right for me?
Q: How do interest rates affect my mortgage?
A: Your goal needs to be on getting the best “rate/cost” option in order to maximize your buying power.
Q: Should I wait until I have 10% to 20% for my down payment?
A: No, not necessarily. Think about the situation this way. If you’re in the same position as so many other people, you’ll need some time to save for this amount. When you’re finally ready to go house hunting with your higher down payment in check, you may then experience the big disappointment of finding out that house prices have moved out of your range.
Q: How do I know which mortgage loan option is really right for me?
A: With so many mortgage loan options available, it’s nearly impossible for an individual to know how each one will impact them in the long run. As a “licensed mortgage professional”, I work on your behalf to find you the best loan and rate from a number of financial institutions. I have access to a powerful loan-pricing system which prices a home loan across many lenders at one time. A “typical loan officer” works for a bank, a credit union or another mortgage lender. With this said, they have a limitation in that they can offer you only those home loan options and mortgage interest rates from that particular financial institution.
Q: When is a good day and time for you and I to discuss your specific mortgage needs?
Feel free to email me, text me, call me or book an appointment with me.
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Paul@BestMortgageInTexas.com
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