Not many people have the capability to buy a house for cash; most people will require a mortgage. Therefore, you not only need to go shopping for a house —you also should go shopping for the best loan deal. There are different types of loans out there, and it’s best to check several and then compare them. That way, you’ll have better chances of securing a mortgage that won’t be a burden in the future. It also means you’ll have an opportunity to save some money at the end of each month. Shopping for the best loan on your own can be a daunting experience, and it might be a difficult task to accomplish by yourself. To overcome that hurdle, it’s recommended that you hire a mortgage professional for many of the same reasons you should engage a real estate professional. If possible, you should engage the professional before you even start searching for the house. This is one of the FIRST SERVICES I offer my clients. I provide contact information for local lenders. This is important. Especially in South Florida! Having a local, creative, knowledgable, and competent lender in your corner is crucial in this market. Why? They know the insurance variables, the taxes, and the local market. South Florida is unique. And, they are able to provide competitive rates. Another task you should work on before you begin looking for a house is organizing your credit issues. It’s important to ensure your credit is in order, because making any mistakes at this juncture can take months to correct and might even end up sinking your chances of owning a home. I also have contacts that can assist you with your credit scores. After getting your credit in order, the next step is to do research on the houses that you can afford. This is simple today, since many online tools can help in doing these calculations. These
83
Powered by FlippingBook