By asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. There are certain approaches that you can take while mortgage shopping that can cost or save you money.
It is still true that the better qualifications you have, the lower your interest rate will be. However, there are mortgages available for almost everyone; it's the interest rates or the down payments that vary.
Before speaking with a lender, know what monthly dollar amount you feel comfortable committing to. Then when you discuss mortgage pre-approval with your lender, it is easier for you to determine the monthly amount and what value of home the monthly amount translates into. Do not put yourself in the position where you will be paying more each month than you intended simply because the dream home requires it.
Do your research on the types of mortgages available to you and find the one that best suits your needs. There are a number of considerations to be made in terms of finding the best mortgage for each individual:
What type of market are you in? Are the interest rates falling or rising?
Do you want a fixed mortgage rate, where you will always know what your payment is going to be?
What are your long-term goals? Do you intend to resell the property? Do you only need the mortgage for a short time?
Shane and Dianne Sweeney Sweeney & Associates
1320 Stone Bridge Drive Suite C
Ada, OK 74820
OFFICE (580) 421-9911
FAX (580) 421-9111
"Angela, we want to thank you for all the time, energy and your successful efforts to get our Kirby house sold. We have lots of nice memories of our years there and are now focusing on new memories and our life here. We're sure we'll contact you in the feature when and if we get ready to sell our house here. Also, thank you for the SanteFe gift card, We just, this week, finished spending the remaining balance for our 47th-anniversary dinner!"Vickie & Terry Ragsdale