So you decided you are ready to buy a home! Now to decide what lender is the best for you and your purchase! You can always contact your Real Estate Professional at Sage Street Realty to help you make an informed decision, we are always available to help. But here are a few things to consider when you get started.
What type of home are you buying?
If you are looking at New Construction, it is very tempting to use the builder's lender as they give you some incentives to go that route. However, in the long run, you may be better off with a Mortgage broker.
How much home do you want to buy?
Depending on the size of the loan, and the amount you are putting down some lenders may be more ideal than others.
What is your current financial situation?
Do you have a special consideration? Do you have an ITIN or maybe some unfavorable credit history? Finding a lender who can work with your particular situation is ideal.
How soon do you need to move?
Keep in mind that a Bank and a Mortgage Brokerage are different. Banks tend to take a bit more time to process a loan. Mortgage brokers often have more options available as far as credit standards and loan types. They are also usually more efficient and closing your loan on time.
Buying a home can be a super stressful situation. And the financing part is usually a big part of that. Help yourself alleviate that stress as much as possible by shopping around, making a connection, and getting recommendations from your Real Estate Professional!