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Page 12, The Saline Courier 2020 How-To-Choose Guide Sunday, August 9, 2020 How to Choose... the right mortgage lender Finding the home of your dreams can be time-consuming. but once you've found it, most buyers are eager to close the deal as quickly as possible. But you should remain patient as you begin to arrange for financing. The key is to take as much time as necessary to do things properly and select the best mortgage lender for your needs. Loan professionals have the potential to make buying a home easy. When you work with a lender who is dedicated to providing great service, the process is likely to go smoothly. But if your lender appears to be focused primarily on securing large commissions or pushes loan products that you're not interested in, exercise caution. Mortgage professionals should be extremely knowledgeable about a wide variety of loan products and feel, you should should be willing to spend as much time as necessary to explain them. Solid lenders are eager to answer buyers' questions and take pride in guiding them through what can be a confusing process. The best mortgage professionals keep the borrower's best interests and financial priorities in mind. the obligations Do some advance research on loan options to measure whether you are dealing with an honest mortgage professional. Knowing a bit about loan products before you sit down with a lender can help you determine whether he or she is truly concerned about your needs. Having at least some knowledge about the financing process will allow you to make a sound assessment of the mortgage professional's motivation and decide whether he or she is a good fit. initial mortgage payment. This can be avoided simply by exercising sufficient care when signing all agreements. If a mortgage lender is rushing through the paperwork and pressuring you to quickly execute the forms, he is not doing his job properly. In such a case, the purchaser's best interests are being neglected, and the likelihood of a misunderstanding grows. SOLD COMMUNICATE WITH YOUR LENDER Experienced mortgage lenders take the time to gain a thorough understanding of a purchaser's long- range financial goals. A good lender will want to know how long the buyer intends to remain in his or her new home. This type of knowledge helps him suggest the mortgage products that best suit the borrower's needs. It is a red flag if a lender fails to ask this kind of question. SEEK LOCAL LENDERS Finding a mortgage lender in your area is usually best. Because interest rates process may exercise care in making sure you understand everything you are signing and can change on a daily basis, a local lender is better able to remain attuned to rapid changes in the local you are assuming. A housing market and will always know how such changes may affect his or her clients. A local lender also signature cannot be erased, and buyers may only have a short time - or no time at all - in which they can back out. PURCHASER'S RIGHTS Dealing with mounds of forms, declarations, and financial terminology can be dizzying to the inexperienced homebuyer. However intimidating the Even if done within the permissible period, a purchaser still will likely forfeit any deposit paid if he does not follow through with the deal, and he may also owe an additional amount based on the amount of the allows for closer monitoring of your loan application as he will be more readily accessible to answer any questions you may have. Page 12, The Saline Courier 2020 How-To-Choose Guide Sunday, August 9, 2020 How to Choose... the right mortgage lender Finding the home of your dreams can be time-consuming. but once you've found it, most buyers are eager to close the deal as quickly as possible. But you should remain patient as you begin to arrange for financing. The key is to take as much time as necessary to do things properly and select the best mortgage lender for your needs. Loan professionals have the potential to make buying a home easy. When you work with a lender who is dedicated to providing great service, the process is likely to go smoothly. But if your lender appears to be focused primarily on securing large commissions or pushes loan products that you're not interested in, exercise caution. Mortgage professionals should be extremely knowledgeable about a wide variety of loan products and feel, you should should be willing to spend as much time as necessary to explain them. Solid lenders are eager to answer buyers' questions and take pride in guiding them through what can be a confusing process. The best mortgage professionals keep the borrower's best interests and financial priorities in mind. the obligations Do some advance research on loan options to measure whether you are dealing with an honest mortgage professional. Knowing a bit about loan products before you sit down with a lender can help you determine whether he or she is truly concerned about your needs. Having at least some knowledge about the financing process will allow you to make a sound assessment of the mortgage professional's motivation and decide whether he or she is a good fit. initial mortgage payment. This can be avoided simply by exercising sufficient care when signing all agreements. If a mortgage lender is rushing through the paperwork and pressuring you to quickly execute the forms, he is not doing his job properly. In such a case, the purchaser's best interests are being neglected, and the likelihood of a misunderstanding grows. SOLD COMMUNICATE WITH YOUR LENDER Experienced mortgage lenders take the time to gain a thorough understanding of a purchaser's long- range financial goals. A good lender will want to know how long the buyer intends to remain in his or her new home. This type of knowledge helps him suggest the mortgage products that best suit the borrower's needs. It is a red flag if a lender fails to ask this kind of question. SEEK LOCAL LENDERS Finding a mortgage lender in your area is usually best. Because interest rates process may exercise care in making sure you understand everything you are signing and can change on a daily basis, a local lender is better able to remain attuned to rapid changes in the local you are assuming. A housing market and will always know how such changes may affect his or her clients. A local lender also signature cannot be erased, and buyers may only have a short time - or no time at all - in which they can back out. PURCHASER'S RIGHTS Dealing with mounds of forms, declarations, and financial terminology can be dizzying to the inexperienced homebuyer. However intimidating the Even if done within the permissible period, a purchaser still will likely forfeit any deposit paid if he does not follow through with the deal, and he may also owe an additional amount based on the amount of the allows for closer monitoring of your loan application as he will be more readily accessible to answer any questions you may have.