CHAPTER 4 Shopping for a Mort or a Mortgage
The decision to buy a home puts you into a realm full of things you may have not dealt with prior, especially if you used to rent your home. Owning a house brings a whole new experience. 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 mortgage deal. There are different types of mortgages 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. People have been known to spend months looking for the best possible home and eventually find a good one. However, many of these individuals fail to understand the importance of finding a good mortgage. In the end, the new homeowner has a nice home, but a bad deal when it comes to the mortgage. Shopping for the best mortgage 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. You should ALWAYS engage the mortgage professional BEFORE you even start searching for a house but FIRST... 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. 29
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