By asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. There are certain approaches that you can take while mortgage shopping that can cost or save you money.
It is still true that the better qualifications you have, the lower your interest rate will be. However, there are mortgages available for almost everyone; it's the interest rates or the down payments that vary.
Before speaking with a lender, know what monthly dollar amount you feel comfortable committing to. Then when you discuss mortgage pre-approval with your lender, it is easier for you to determine the monthly amount and what value of home the monthly amount translates into. Do not put yourself in the position where you will be paying more each month than you intended simply because the dream home requires it.
Do your research on the types of mortgages available to you and find the one that best suits your needs. There are a number of considerations to be made in terms of finding the best mortgage for each individual:
What type of market are you in? Are the interest rates falling or rising?
Do you want a fixed mortgage rate, where you will always know what your payment is going to be?
What are your long-term goals? Do you intend to resell the property? Do you only need the mortgage for a short time?
Bobbie is just great! I liked her immediately, I have been teaching 40+ years and can read an honest, sincere face in a nano-second. She has been there to support me and is very, very knowledgeable about her field. She is great with marketing and uses everything out there to get the needed exposure. Bobbie has contacted me on a regular basis to let me know what is going on with every detail. She is a realtor who really earns her commission! It is without hesitation that I would recommend Bobbie to any of you out there reading this.
Fri, May 4, 2012 Mary Ann E.
Fantastic!!! That describes my experience working with Bobbie and Asheville Realty Group in looking for our new home. What a nice person; it was like looking at homes with an old friend. What a hard worker; she really did her homework and figured out exactly what we wanted. We never felt pressured or rushed. She guided us through the whole process and answered a million questions. I could not be happier!Christina W.