We can help you determine how much
home you can actually afford. If you're short on cash, we can suggest
some possible sources of funds for your down payment, or help you
find low-down payment loans or seller-financed loans.
Rates for conventional, 30-year fixed
rate mortgages are now in a reasonable range. Increasingly popular
alternative forms of financing may make your loan even more affordable.
Fran Cunningham can provide information
on the types of mortgage plans available to you.
We can help
you work out a realistic idea of the home best suited to your needs:
Location, size, style, features, accessibility to schools, transportation
and shopping.
Be sure you find a loan that fits your needs with these comprehensive questions.
What are the most popular mortgage loans
you offer?
Which type of mortgage
plan do you think would be best for us? Why?
Are your rates,
terms, fees, and closing costs negotiable?
Will I have to buy
private mortgage insurance? If so how much will it cost
and how long will it be required? NOTE: Private mortgage
insurance usually is required if you make less than a 20
percent down payment, but most lenders will let you discontinue
the policy when you’ve
acquired a certain amount of equity by paying down the loan.
Who will service
the loan? Your bank or another company?
What escrow requirements do you have?
How long is your loan lock-in period (the time that the
quoted interest rate will be honored)?
Will I be able
to obtain a lower rate if they drop during this period?
How long will the loan approval process take?
How long will it take to close the loan?
Are there any charges or penalties for
prepaying the loan?
