For home buyers, finding mortgage financing and determining the cost of your mortgage can be as important as finding a new home.
How Much Mortgage?
Our mortage calculator can help you tackle one of the first questions home buyers face: “How much mortgage?”
But there’s more to the question. A lender looks at objective factors like income, assets and credit score to tell you how much you can borrow. But, you must answer more subjective questions to decide how much you want to borrow.
As a home buyer, you start with the size of the mortgage for which you qualify. But then there are other questions to ask yourself. How important is your home is to you and your family? How much you are willing to allow the financing of home ownership to affect your lifestyle? How will your house payments effect travel, repairs, saving, investing and the other demands on your money?
When it comes to finding the right loan officer, it’s important to ask the right questions. These questions fall into four general categories:
General questions to ask a lender
How does the lender protect home buyers’ interests?
What information does the lender disclose?
How does the lender handle closing costs and other fees?
As an exclusive buyer agent (EBA), The Home Buyers, Inc. is in a unique position to help you with the important task of finding a lender. We can outline the process and prompt you to ask the right questions. The goal is to wind up with the best interest rate and the lowest total fees. And that can save thousands of dollars over the life of your mortgage.
Or, if you already have established trust and rapor with a loan officer, The Home Buyer’s, Inc. is able to welcome him or her onto the team.