As a mortgage professional it’s my job to evaluate your personal situation and find the best mortgage product and rate that best fits your short and long term goals. Lot’s of people don’t know, but in 99% of cases it’s completely free to work with a Mortgage Professional! We are paid a commission from the lender for facilitating the loan. In extremely rare cases a borrower will need the assistance of a private lender. In these instances a small fee would be charged to the borrower.
Real Estate Pros.
There are other important professionals you need on your team to ensure the home-purchase goes smoothly:
- Mortgage Professional
- Home Inspector
- Home Appraiser
- Insurance Agent
Are you looking for professional recommendations? One thing I pride myself on is having amazing industry connections. If you are looking for highly-rated recommendations for any of the above I would be happy to make those connections.
The BIGGEST myth in mortgages and home-buying is that you need to have a 20% down payment. This, as Dwight Schrute would say, is ‘False!’ The 5% down payment is a great option for folks who are looking to purchase their primary residence.
Keep in mind with a down payment lower than 20% you are required to have Mortgage Default Insurance. This premium is added back to your mortgage amount.
Large monthly payments can have a dramatic negative effect on the amount of mortgage you can qualify for as an individual/family. If you’re considering buying a home in a short to medium time frame speak with your mortgage professional to go over how that payment may hurt your ability to get the home of your dream.