 Once you've made the decision to start looking for a new home it is important you get your credit in good shape. Successful mortgage qualification will be much easier if you start saving those extra pennies right away. Remember if you need a mortgage, the value of the home you can purchase will depend upon your income, debts and down payment. 
Once you've made the decision to start looking for a new home it is important you get your credit in good shape. Successful mortgage qualification will be much easier if you start saving those extra pennies right away. Remember if you need a mortgage, the value of the home you can purchase will depend upon your income, debts and down payment.For current mortgage rates quoted by White Horse Mortgage Services please click here. Try our mortgage calculator below to estimate the monthly mortgage payments based upon the loan you will require for your new home. Note: The above calculator provides an estimate only. Home Owners insurance will vary and need to be added to your mortgage payment. In addition depending upon the area in which you decide to live the calculated property taxes will vary according to local millage rates. |
10 Questions to Ask Your LenderBe sure you find a loan that fits your needs with these comprehensive questions.1. What are the most popular mortgage loans you offer? 2. Which type of mortgage plan do you think would be best for us? Why? 3. Are your rates, terms, fees, and closing costs negotiable? 4. Will I have to buy private mortgage insurance? If so how much will it cost and how long will it be required? NOTE: Private mortgage insurance usually is required if you make less than a 20 percent downpayment, but most lenders will let you discontinue the policy when you've acquired a certain amount of equity by paying down the loan. 5. Who will service the loan? Your bank or another company? 6. What escrow requirements do you have? 7. How long is your loan lock-in period (the time that the quoted interest rate will be honored)? Will I be able to obtain a lower rate if they drop during this period? 8. How long will the loan approval process take? 9. How long will it take to close the loan? 10. Are there any charges or penalties for prepaying the loan? Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2003. All rights reserved. www.REALTOR.org/realtormag Check Rates, Ask Questions, Talk to a Mortgage Consultant at Bentley Mortgage www.bentleymortgagecorp.com. Click Here to request mortgage information. |
