|
Tom Blakeman
Houston
Real Estate
Newsletter
Subscribe
Free!
HOME
BUYERS
SELLERS
RENTERS
MLS LISTINGS
NEIGHBORHOODS
NEW HOMES
NEWSLETTER
TIPS
FINANCING
RESOURCES
Send
The Best
Houston
Real
Estate
The Best
Houston
RealtorŪ
| |
Houston Real Estate - Mortgage Tips:
The
following tips will make your home buying experience a lot more pleasant and help you save
time and money in the process:
1. Get Pre-Approved
Ask
yourself, "If I was selling a very expensive item (a home) would I want to sell it to
someone if I did not know for sure that they could pay for it?"
Of course not!
A home seller is in the same position. Along
comes a prospective buyer who wants the seller to sign a contract to sell
his
house. If the seller agrees he will be taking his house off the market for a period
of time - several weeks perhaps - waiting to close the deal. If the deal not
close because the buyer could not get a loan the seller has lost a lot of selling
time. He may also have lost another truly qualified buyer who bought a different
house in the meanwhile.
Everyone is familiar with the concept that "cash"
buyers may get a better deal or "discount" than others. That's
because the seller knows the money is good. When you are Pre-Approved you
automatically become a "cash" buyer. Any mortgage lender will gladly
review your financial picture and give you a written Pre. Usually
there is no charge. Later, when you begin to negotiations, you are dealing from a position of strength.
The seller is assured you can Close
the deal!
2. Shop Around
There are so many
different types of mortgages, rates, terms and conditions out there that they probably
cannot be counted. But, at first, it seems simple. Go for the lowest
interest rate. Right?
Sorry, the published interest rate is only the tip of the
iceberg. Below the surface is a complex web of fees, terms, closing costs, points,
discounts and more. The list is endless. The charges vary widely from lender to
lender and may change depending upon credit history, employment history, income, assets,
loan type and other factors.
The only sure way to get the best deal is to shop, shop,
shop. Try the Houston Mortgage Links for some good
mortgage sources and mortgage information. Give them a try.
3. Shop On-Line
The availability of
online mortgage applications is continuing to escalate.
Even after the mortgage and bank crisis of the late
2000's some people still think it is ideal to do everything online without
ever leaving your home or office.
Think
again: You will be
far better served by sitting down face to face with a lender in the city
where you
will be buying - someone you can physically find when there are problems.
We do recommend shopping the internet for rate
and fee information before actually calling or meeting with a lender. Then,
when you do meet face to face with a lender you will already be prepared.
Revised:
11/25/2011
| NOTE: The listing of any mortgage lender
above does not constitute a recommendation or endorsement of that lender or their loan
products by Blakeman Properties. This list is provided only as a service to our
customers. The home buyer should research several lenders and select the one
offering the most competitive rates and terms and which also best meets the buyer's other
needs. Blakeman Properties can provide answers to many of your questions.
However, we cannot quote rates, grant approvals or provide the actual financing. |
|
