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If you are planning to buy a home in the near future, you want to align yourself with a good mortgage lender. Finding the best mortgage company for you may depend on a variety of factors. There are many great mortgage lenders in and around Atlanta, GA.
Here are some of the questions you should be asking to find a trusted mortgage partner:
What Type of Mortgage Loan is Best for Me?
This is a very important question. Some mortgage lenders and banks may only offer limited types of mortgage loans or push you toward a specific mortgage product they represent. This may be fine if that is the best type of mortgage loan for you. Or, you may consider working with an experienced mortgage broker.
A broker is working on your behalf to shop around and help you explore all your mortgage lending options. You may be eligible for a special loan program like an FHA loan, USDA loan, VA loan, jumbo loan or a conventional loan with lower down payment requirements and closing costs. A mortgage broker can find the best lending solution and lock in the lowest possible mortgage rate based on your financial qualification requirements.
Am I Ready to Buy a Home?
This may be the most important question to ask yourself. Of course, it’s every American’s dream to own their first home. Or, you may be ready to move up or move down if you are already a homeowner currently. You have to make sure you are emotionally ready for a home purchase and big life move.
Even more critical is being financially ready. You will want to have your finances in order before buying a house. This means paying down existing debts like credit card balances, establishing a steady income, increasing your credit rating (FICO) score, and saving up for a healthy down payment. All of these factors will enable you to qualify for a mortgage loan with a lower interest rate.
Can I Get Pre-Approved for a Mortgage Loan?
Ask any mortgage lender or broker you talk to if you will be able to get pre-approved for your mortgage loan. Some lenders may only offer a basic pre-qualification, which doesn’t mean much in today’s fast-paced real estate market. A mortgage pre-approval will let you know exactly how much home you can afford and help you lock in a good mortgage rate. It will make the final closing process go much smoother when your mortgage loan receives its final funding. Home sellers will want to see a mortgage pre-approval letter from a reputable lender as part of your purchase offer. Get your financial documentation ready and get pre-approved with your mortgage lender.
How Can We Help You?
You want to find a mortgage lender you can trust. Those offering cheap, discounted services or advertising mortgage rates and plans that seem too good to be true are often just suckering you in with sneaky tactics. A mortgage loan is going to cost you about the same amount in closing costs no matter who you work with, so make sure you find a mortgage lender who instills you with confidence in trust.
Ask a lot of questions upfront, read online reviews and see who you feel will provide you with the best service. Don’t be afraid to talk with multiple mortgage lenders and mortgage brokers to find the right fit. This is how you find the best mortgage company in Atlanta—one who you can count on to provide honest and helpful assistance throughout your home buying process.
If you have mortgage questions, we’re here to help. Call Moreira Team | MortgageRight today. We are one of Atlanta’s leading mortgage brokerages and we’re dedicated to helping you find the best lending solutions for your upcoming home purchase or refinance.