Page 7 - 2022 Vol 12 Issue 15 Zone 3 Eric Krise
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6 Things to know before buying
REAL ESTATE EXPERT CONTRIBUTOR
When you discuss mortgage preapproval years o your mortgage. Simply by
with your lending institution, nd out structuring your payments so that they
what level you qualify for, but also verify come out more frequently, will
what monthly dollar amount you feel signi cantly lessen the amount of interest
comfortable committing to. that you will be charged over the term.
Your situation may give you a preapproval 5. Ask the lender if you qualify for a
amount that is higher (or lower) than the rst-time home buyer’s loan?
Anthony Morda amount of money you would want to pay
Century 21 Town & Country Realty out each month. Often there are programs available for rst
time home buyers, and monies could be
Yes, the interest rates have been 3. You should be thinking about your available through the government for
uctuating lately. Before you commit your long-term goals, and expected situation, quali ed borrowers.
hard-earned dollars to monthly mortgage to determine the type of mortgage that 6. You should seriously consider dealing
payments, consider these 6 points. will best suit your needs. with a Mortgage Expert.
1. You should get preapproved for a There are several questions you should be Deal with a professional who specializes in
mortgage before you go looking for a asking yourself before you commit to a mortgages as your rst step in the home
home. certain type of mortgage. Should I put the buying process. Enlisting their services
Preapproval is easy and can give you minimal monies down toward the can make a signi cant di erence in the
complete peace of-mind when shopping purchase of a home or a larger down cost and e ectiveness of the mortgage
for your home. Your local lending payment? You need to determine what is you obtain.
institution can provide you with a written best for your current situation. For more information about mortgage
preapproval for you at no cost and no 4. Make sure you understand what programs available please contact Tara
obligation, and it can all be done prepayment privileges and payment Morda, NMLS ID 1961818. Loan Originator
over-the-phone. frequency options are available to you. (NMLSID) from Greentree Mortgage
2. Know what monthly dollar amount you More frequent payments (for example Company, LP at 302.229.5212.
feel comfortable committing to. weekly or biweekly) can literally shave
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