Real Estate Buying Mistakes – #5
Not shopping for the best loan program
It would be a mistake to think just because someone else got a great loan, at a great interest rate from a certain lender, that you would be able to do the same.
It is recommended that you meet with an expert who can clearly explain the many different types of loan programs and explain each of their benefits and risks. Explore all the possibilities, weigh your options carefully and then make an informed decision based on your needs.
A few considerations to keep in mind are:
- Anticipated time you will live in the home
- Available financial assets
- Current income vs. future income
Just as you should interview your real estate agents, you should also interview lenders. Not all lenders offer the same programs or have the same lending options and interest rates. Select a lender who is willing to discuss your needs and help you choose the loan program that is best for your situation.
Contact me today if you have questions or want to discuss your lending options.