Posts Tagged ‘Mortgage Expert’

Buying a new home is typically the most expensive purchase people make in their lives. The process can be arduous, but the beautiful hardwood floors, shiny granite countertops, and lush green backyards draw you in and make a lasting impression. However, that excitement can disappear if your chat with an agent about the cost of the home, homeowner’s association fees and property taxes doesn’t go as planned. Make the dream of homeownership from Paran Homes a reality in 2024 by being proactive instead of reactive. Learn why you should get pre-approved for a mortgage now!

‘Get Your Head in the Game’… the Real Estate Game, That is!

Interest rates have dropped in 2024, and now is the time to sign a contract for the home you’ve been eyeing.

“After rising to 7.79% in October—the 2023 high—mortgage rates have cooled markedly in recent weeks…”(Forbes) It is expected that “mortgage rates will continue to ease in 2024 as inflation improves and Fed rate cuts get closer…” (Realtor), dropping down to 6.5% on average this year.

Getting pre-approved for a mortgage now offers insights into various mortgage options and helps you select the most suitable one. You can take the time to compare lenders and the types of loans they offer, such as conventional, government, fixed-rate, and more! With so much information out there, it’s better to get organized early and take advantage of the lower interest rates so you don’t pay more for your home later.

Touring a model home or speaking to a seller with your pre-approval in hand convinces them that you are committed to the process of being a homeowner. Sellers often favor pre-approved buyers, which signifies seriousness and financial readiness to purchase. Don’t waste time window-shopping your new home when you can purchase confidently!

In the United States, having good credit has been a marker of good financial literacy for the last few decades. For many home purchases using a loan, a high credit score is required to get the best interest rate and approval odds. Pre-approval may uncover credit issues or errors that can be addressed before the actual purchase process. Getting your pre-approval completed before touring model homes or speaking with a real estate agent can save time if your credit score is too low and needs improvement.

Buying a new home is a lot like playing a game of chess. An unexpected appraisal amount may cause you to rethink your winning strategy, and a home inspection can cause a blockade and derail your move-in plans. Having mortgage pre-approval strengthens your negotiation power when making an offer on a property. It gives you more knowledge to make the right move and avoid blunders by accepting a less favorable loan. With Marc Chillion and Paran Homes, homeownership is the endgame for 2024!

From your boss requesting overtime at work, your kids needing to be picked up from school, and your dog feigning a long walk, you’re busier than ever this year. Pre-approval streamlines the closing process, reducing the chances of delays. Buying a new house is a lengthy process, but getting pre-approved cuts down on wasted time and unexpected news. Take your time back this year and move into your new home faster and more efficiently.

Get Pre-Approved for a Mortgage Today!

Getting pre-approval for a mortgage now can save you time and money later! Contact Marc Chillion today for pre-approval options and information on new construction communities in Atlanta, GA from Paran Homes!

With today’s rates being as low as they are, many potential home buyers are looking for ways to fast track the mortgage process at rocket speeds online or through Apps on their phone.

After all, we do live in a time where we can have almost anything we want on demand through a few clicks. With all of these amazing conveniences, it only makes sense that there are similar shortcuts to buying a home, right?

Wrong!

The purchases mentioned above, are relatively minor compared to the average price of a home. And many first time home buyers don’t realize that mortgage loans are not one-size-fits-all products and each one is tailored to the borrower’s unique financial situation

When you work with a mortgage expert, either face-to-face or over the phone, they can ask you the right questions to help you secure the best mortgage at the best rate, customized to meet your own personal home buying needs.

And while today’s rates remain low, they won’t be forever, so the more prepared you are in advance, the better your chances will be later of securing the best possible mortgage to help you buy the home of your dreams.

Here are five simple steps to make the home buying process as uncomplicated and easy as possible for you.

1. Start saving now!

While some mortgage products require a very low down payment, or no down payment at all, there are costs associated with the buying a home you may not be aware of. Outside of fees associated with closing costs, the home’s inspection, etc., there may also be upgrades or changes you’ll want to make right away, sich as the installation of a wireless AV system.

2. Know your loan options.
FHA, VA, conventional, jumbo… all of these mortgages have their plusses and minuses.

A mortgage expert can help you decide which one is the best option for the home you’re considering and walk you through down payment scenarios and other factors that will affect your monthly mortgage payment.

3. Know in advance what you’re approved for.

Most people have no idea how much a mortgage lender is actually going to loan them until they find a home they like and apply for a loan. Getting approved for a mortgage can take some time and with the limited availability of homes on the market, any delay can cause you to lose out to another buyer who is already working with a lender.

Make sure you have a pre-qualification before you even start window shopping for a home and later, secure a pre-approval before you start meeting with Realtors and home sellers. Many Realtors and sellers won’t meet with potential buyers unless they see a pre-approval letter from a mortgage lender.

4. Is anyone else pretending to be you?

Many potential borrowers don’t realize that they’ve been the victims of identity theft until they have had their credit checked by a mortgage lender. ID theft can hurt your credit score and make it very difficult for you to secure a mortgage at a favorable rate.

Overcoming identity theft is a time consuming process and one that does not happen overnight. It’s best to check your credit report at least once a year to see if you’ve been the victim of identity theft and fix any errors you may see before you apply for a mortgage.

5. Connect with a mortgage expert for insider secrets.

Each borrower’s situation is different and there are many other steps a borrower can take to secure the best mortgage at the lowest rate possible. However, these are all based on the individual borrower’s personal situation, the current interest rates and the home they are looking to purchase.

HomeBridge prides itself on taking a personal approach to the mortgage industry. Any of the mortgage loan originators in my office would be happy to discuss your home buying needs with you and there is never an obligation to work with HomeBridge when you do decide the time is right to purchase a home.

About the author:

Jeff Conn is the branch manager for the Cobb office of HomeBridge Financial Services, Inc. one of the largest, independent mortgage lenders in the U.S. Appointments with Jeff or someone from his team can be made by calling (770) 373-5500, sending an email to jconn@homebridge.com or by going online to www.homebridge.com/branch/kennesaw/.