How to Get the Best Mortgage for Your Home Purchase
Before you even start looking at homes, it's a good idea to get pre-approved, your agent should also be recommending it right away. Getting pre-approved lets you and your agent know the purchase limit so they won't show you houses you can't afford. Make sure to communicate what payment range you are wanting to stay within as well. For example: You may be qualified for a $300,000 house; however, if you want to keep your house payment under $1800, they shouldn't be showing you $300,000 houses unless you have at least $75,000 to put as a down payment. With that in mind, what would be the best mortgage for your home purchase? Would it have the following:
• The best possible interest rate? • The best possible loan terms? • A low down payment — if that’s what you want? • An easy, stress-free closing?
Would you like to be able to make your offer “as good as cash” so you can negotiate the best price and terms? Make sure to get pre-approved, not just pre-qualified. Whatever your goal is, any of the lenders below can help you get there. There are many different loan programs available for home buyers. Here are just a few: • Conventional—A conventional mortgage can lead to a low fixed rate or adjustable rate for your primary home,
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