| Mortgage and Loan FAQ
How Much Can I Afford?
Congratulations, you are considering taking the most
important step in your home buying process. By determining how much
of a home you can afford prior to shopping for a new home you will be
better prepared to make an informed home buying decision. In today’s
complex financial markets, there are literally hundreds of loan programs
available to you, the consumer. The numerous choices allow most people
to qualify for a larger home than they thought they could afford. This
is true even if you have had some credit concerns in the past. You may
still qualify to buy a new home.
Our team can provide you with an on-line pre-qualification
or an in person 15 minute pre-qualification to help you determine how
much of a home you can afford based on your current financial situation.
Both are free. In addition, he will provide you with a free copy of
your in-file credit report and a $100 discount coupon towards your closing
costs. You will also receive a pre-qualification certificate that you
can give a home seller to show them that you are a qualified buyer.
To set up an appointment call or email us, or complete your information
on our On-Line Loan Application today.
If I have had credit challenges, can I still get a
home loan?
There are a number of financing options available
for people that have had credit concerns in the past. Even if you have
had a past bankruptcy, foreclosure or auto repossession, you may now
qualify to buy a home. We take a commonsense approach to helping people
buy a new home. If you would like to be treated with respect and have
someone explain your financing options for a home loan, please call
or e-mail us now. He would love to assist you in achieving your financial
goals.
What are the top questions I should ask a Lender before
choosing them to take care of my financing?
In today’s complex financial market there a
hundreds of choices for your mortgage financing needs. How does a consumer
find a mortgage that is best suited for their personal financial needs?
Typically by making numerous phone calls to local lenders. However,
if the consumer does not know what questions to ask how can they be
assured they will find a lender that meets their needs? Scott Cummings
the President for Cummings Financial has developed the "Top Ten
Questions to ask when shopping for a mortgage loan." The questions
are designed to help a consumer ask pertinent questions other than interest
rate quotes. Sometimes chasing the lowest interest rate quotes leads
to frustration and missed closing dates.
Questions such as:
How will you ensure my loan closes on time? Do you
provide free interest rate protection for my loan and is it in writing?
If my lock expires, what is your policy and is it in writing? Do you
have an underwriter located in your office? Does your office prepare
the closing documents and fund my loan? How long have you been in the
mortgage business? How many families have you helped finance their new
homes? What % of your loans are approved? What % of your customers felt
they received excellent service? Can you provide me written testimonials
from your past customers?
If you would like of copy of these questions to use when
shopping for your mortgage, click here
to print off your own copy.
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