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?
Lisa has been helping many of our clients with loans, including many VA loans, since 2007. By that time, the housing market had regulations basically limiting loans to full documentation and 30-year fixed time horizons. You can consult Lisa on your credit and income scenario, what loan might best fit your needs, and anything else, for free, with no obligation. Simply email Lisa, or call her direct at 951-704-4559.
"Sand to Sea Properties, Inc. provided stellar customer service from beginning to end. Throughout the entire process Frank and Lisa guided us and were always available to answer any question or concern, and were prepared for any curve ball throughout the home buying process. Their expertise in real estate became such a comfort to know we were working with top notch individuals who were not just incredible at what they do, but also enjoyable to be around. We highly recommend Sand to Sea Properties for your home buying or rental needs."
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