#homebuying Archives - Moss Realty

Things To Consider

Interest Rates Mortgage lenders have their overhead costs, profit goals, and more, which can lead to variations in the interest rates offered. Borrowers can see rate differences among different lenders. Therefore, comparing rates and obtaining preapproval is crucial to getting an accurate estimate of what each lender can offer.

Fees Mortgage loans often come with several fees that directly influence your closing costs. These fees can vary significantly between lenders. Some charge origination or application fees, while others do not. It is necessary to compare and review loan estimates, line by line, to understand the total fees and costs involved.

Loan Products Each mortgage loan program has its qualifying requirements and down payment minimums. It is essential to consider a lender’s loan offerings and whether they align with your financial situation—research different real estate mortgage programs to find those that work within your budget and credit profile.

Reputation and Service Checking online reviews and ratings can provide insights into the company’s level of service. Additionally, asking for recommendations from reliable sources, such as your real estate agent, can be beneficial.

Process and Presence Is the preapproval process quick and straightforward? Do they provide informative resources? Do they offer customer service through multiple channels? A lender who meets your expectations during the application process and beyond is essential for a smooth homebuying experience.

Which Comes First, Lender or Agent? While obtaining mortgage preapproval before making an offer is important, hiring a real estate agent first can have its benefits. The agent will be involved in all aspects of the homebuying process and can help guide a client every step of the way.

Using Your Real Estate Agent’s Recommended Lender Real estate agents often provide lists of recommended lenders to their clients. The idea behind such a recommendation is to make buying easier for clients.

During the financing process, numerous issues can arise, from careless scrutiny of loan applications to misplaced or overlooked documents, which can cause delays or even jeopardize the transaction.

Real estate agents with a high volume of successful transactions have valuable experience working with various lenders. They know which lenders will deliver on their promises. By choosing a mortgage lender recommended by your agent, you can benefit from their intimate knowledge and expertise in navigating the lending landscape.

Reach Out to Your Trusted Realtor Explore the list of our preferred lenders and contact our team at Moss Realty in Gastonia, North Carolina to start your homebuying journey. We will bring our industry experience and exceptional service to make your homeownership dreams a reality.

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Home Buying Timeline for First-Time Buyers

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