Mortgage lender

When you are choosing a mortgage, there are some important questions you need to ask your lender. Here are the top 11 things you should be asking a lender.

Here are some essential questions to ask your mortgage lender to ensure you find the best mortgage for your needs.

How do you avoid this mistake? Apply with multiple mortgage lenders. A typical borrower could save $430 in interest just in the first year by comparing five lenders, according to NerdWallet.

Pre-approval is as close as you can get to confirming your creditworthiness without having a purchase contract in place. You will complete a mortgage application and the lender will verify the information you provide. They’ll also perform a credit check. If you’re pre-approved, you’ll receive a pre-approval letter, which is an offer to lend you a specific amount, good for typically 90 days.

A common rule of thumb is to spend no more than 28% of your gross monthly income on housing and 36% on total debt. Understanding your budget will help you know how much you can afford, including the down payment, mortgage payments, property taxes, and insurance. It's essential to get pre-approved for a mortgage to understand your financial limits. An important metric that your mortgage lender uses to calculate the amount of money you can borrow is the DTI ratio — comparing your total…

It’s December. And that means you don’t have time to read long and boring posts about getting a mortgage. What instead? THIS lightning-round mortgage FAQ! Q: Should I shop around for the best rate? A: A thousand times YES! And don’t worry about stepping on lenders' toes. Tell them you’d like to work with them, but you’re shopping around for the best rate. Q: Will multiple mortgage loan applications hurt my credit score? A: Maybe by a few points, but not enough to keep you from comparison…

Do high mortgage rates discourage you as a buyer❓ Remember, you can always refinance when the rates drop❗️ Plus, we have an awesome preferred lender 😊 https://www.sherylnelsongroup.com #STAhappy #SherylNelsonRealtor #SherylNelsonGroup #kellerwilliamsstaug #KellerWilliams #StAugustineRealtors #TheRealDeal #realty #realtor #realestatelife #realtorlife #realestateagent #property #househunting #firsttimehomebuyer #properties #homeloans #homebuyers #homesearch #mortgagelender #refinance…

When applying for a mortgage, the down payment is your contribution toward the purchase and represents your initial ownership stake in the home. The mortgage lender provides the rest of the money to buy the property. Lenders require a down payment for most mortgages. However, some types of loans backed by the federal government, like VA loans, may not require down payments. #joepratherrealtor #whosnextrealestate #realestateagent #RealEstateInvestor #realestatelife #realestatemarketing

7 Questions to ask your mortgage lender to ensure you know the most important things about your loan. Don Crozier Sr. Mortgage Advisor⠀⠀ NMLS# 243214⠀⠀ (408) 440-6620 Mobile⠀⠀ don@CrozierMortgageTeam.com #home #homebuying #buyingahouse #mortgagetips #homebuyingknowledge #firsttimehomebuyers #homebuyers #croziermortgageteam #nexamortgage

Thinking about purchasing a home? This is your next step! 🏡 Even if you're not quite ready to buy, it's a great time to meet with a lender. A lender can take a good look at your financial picture with you and help you get "mortgage-ready" by helping you understand the process and requirements. From ways to improve your credit score, to how much you need to save up for a down payment, a lender can help guide you on the next steps to take in order to qualify for a loan. Homeownership might be…

You may be eligible for widely-available first-time homebuyer programs, such as FHA, VA and USDA loans, that can make it more manageable to buy a home even if you don’t have a 20 percent down payment. Government-backed programs like these can also be easier to qualify for than other mortgages, and many mortgage lenders offer them. Some first-time buyer programs might include grants, down payment or closing cost assistance, deferred payments, subsidized interest rates or loan forgiveness…

Legit or not? Before you take what online mortgage calculators say to the bank, know this: Interest rates are incredibly personalized. One size *does not* fit all. What you end up with as your lender-issued rate is based on things like: Your debt-to-income ratio - Ranges from 0% if you’re debt-free to 50% or more. Your credit score - Ranges from 300 to 850. Your employment type and income - Salary, self-employed, hourly, bonus-based pay Your loan size, type, and length Your loan co-borrow...

Helpful tips for choosing the right mortgage lender. Learn how to compare lenders for your home mortgage. What to look for in a mortgage provider. Visit for more home buy tips from a mortgage lender! We teach home buyers to save money & buy a home with confidence. Real estate home buying tips, loans, refinancing, appraisal, mortgage lenders | NMLS# 91445

Have you heard this phrase before? Marrying the house means that you should focus more on finding the right property rather than trying to time your purchase to get the lowest interest rate. You are not committed to your mortgage loan interest rate for life—as long as you can refinance it down the road. Don’t lose out on time building your equity waiting for a rate. If you’re ready to buy today, let’s chat! #realestate #joeprather #joepratherrealtor #whosnextrealestate #realestateagent

If you're feeling confused by all the types of mortgage lenders out there, you are not alone! From big banks to private lenders, knowing your options can make a huge difference! As your go-to broker, I'm here to simplify the choices and find the best fit for you. Call me at (226)-235-5991 and let's chat about which lender suits your needs! #MortgageMadeEasy #HomeBuyingTips #MortgageBroker #MortgageAdvisor #LondonOntario

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