You want to pre-qualify for a mortgage. You begin your search through the internet and select the first mortgage advisor that pops up on an advertisement. What is the harm in this you say? You could have just made the biggest mistake starting from square one!
When purchasing one of the largest investments to take place in your lifetime, make sure to ask yourself the following questions about the professional about to represent you:
1. Are they local to the area in which you want to purchase your home? -No one will know the area better than a the local Lehigh Valley business professional. Choosing an out-of-state representative will not allow you to meet with them
face-to-face or accompany you to the closing table. Local mortgage advisors know local realtors, appraisers, and title companies, etc., and work with them on a daily basis.
2. Are they accessible? - A professional mortgage advisor should promptly respond to you within 24hrs. If you are unable to be contacted during daytime hours, then make sure your advisor is available on evenings and weekends. Also if you are unable to meet them at their office, make sure they can accomdate you at an alternative location.
3. How many different ways can you communicate to your mortgage advisor? -If you prefer to communicate by means other than the telephone, will they commuicate with you through e-mail and text message?
4. Are they licensed to originate specific loan programs? -Not all mortgage advisors are licensed to originate ALL loan programs. Make sure you choose a mortgage advisor that is licensed. For example, in order to obtain a FHA mortgage, your mortgage advisor must be licensed to originate a FHA loan.
5. Will they educate you on the mortgage process? - I cannot stress the fact that this is one of your largest investment purchases of your lifetime! With that said, you deserve to be educated on the mortgage process every step of the way. Ask them if they have literature, websites, blogs, etc., that you can read for yourself. They shouldmake you aware and review with you the pre-qualification process, pre-approval process, the mortgage process, your credit score and credit history, available loan programs and interest rate buy-down options. Never hesitate to ask questions during the entire process.
6. Will they charge you an application fee? -There are some Lehigh Valley mortgage advisors that charge an application fee. This application fee is to be paid upfront, just for taking your intial applicaton! This fee acts as a safety net to the mortgage advisor in the event that your loan does not close. Know that not all Lehigh Valley mortgage advisors charge an application fee. Seek a mortgage advisor that is there working hard for you and not out for a quick buck.
7. What fees will be charged to you for their services? -You must receive a Good Faith Estimate from your Lehigh Valley mortgage advisor. These fees are an itemization of the closing costs that are involved in obtaining your mortgage. Yes, real estate professionals are paid for their hard work and services, but within reason.
8. Will they provide you with references? -A good mortgage advisor has references for you to contact. This will enable you to see how their past clients feel about their experience with you as their representative.
I hope this information will aide in your decision of which Lehigh Valley mortgage advisor should represent you!
Lehigh Valley Mortgage Advisor and Choosing Selecting
When purchasing one of the largest investments to take place in your lifetime, make sure to ask yourself the following questions about the professional about to represent you:
1. Are they local to the area in which you want to purchase your home? -No one will know the area better than a the local Lehigh Valley business professional. Choosing an out-of-state representative will not allow you to meet with them
face-to-face or accompany you to the closing table. Local mortgage advisors know local realtors, appraisers, and title companies, etc., and work with them on a daily basis.2. Are they accessible? - A professional mortgage advisor should promptly respond to you within 24hrs. If you are unable to be contacted during daytime hours, then make sure your advisor is available on evenings and weekends. Also if you are unable to meet them at their office, make sure they can accomdate you at an alternative location.
3. How many different ways can you communicate to your mortgage advisor? -If you prefer to communicate by means other than the telephone, will they commuicate with you through e-mail and text message?
4. Are they licensed to originate specific loan programs? -Not all mortgage advisors are licensed to originate ALL loan programs. Make sure you choose a mortgage advisor that is licensed. For example, in order to obtain a FHA mortgage, your mortgage advisor must be licensed to originate a FHA loan.
5. Will they educate you on the mortgage process? - I cannot stress the fact that this is one of your largest investment purchases of your lifetime! With that said, you deserve to be educated on the mortgage process every step of the way. Ask them if they have literature, websites, blogs, etc., that you can read for yourself. They shouldmake you aware and review with you the pre-qualification process, pre-approval process, the mortgage process, your credit score and credit history, available loan programs and interest rate buy-down options. Never hesitate to ask questions during the entire process.
6. Will they charge you an application fee? -There are some Lehigh Valley mortgage advisors that charge an application fee. This application fee is to be paid upfront, just for taking your intial applicaton! This fee acts as a safety net to the mortgage advisor in the event that your loan does not close. Know that not all Lehigh Valley mortgage advisors charge an application fee. Seek a mortgage advisor that is there working hard for you and not out for a quick buck.
7. What fees will be charged to you for their services? -You must receive a Good Faith Estimate from your Lehigh Valley mortgage advisor. These fees are an itemization of the closing costs that are involved in obtaining your mortgage. Yes, real estate professionals are paid for their hard work and services, but within reason.
8. Will they provide you with references? -A good mortgage advisor has references for you to contact. This will enable you to see how their past clients feel about their experience with you as their representative.
I hope this information will aide in your decision of which Lehigh Valley mortgage advisor should represent you!
Lehigh Valley Mortgage Advisor and Choosing Selecting
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