Invest Realty Group's Blog
Have you tried getting a mortgage from your bank and instead been given an endless series of hurdles with no approval in sight? Then perhaps it’s time you moved your search for home finance online. Here you will find a host of companies willing to fund your home ownership dreams, even if you have a bad credit score.
Some will give you the funds themselves while others are brokers who will lead you to the lenders. In the long run, what a homebuyer truly wants is a reasonable interest rate, quick approval, transparent communication, and top-notch customer service. Here are a few companies that fit those criteria.
Quicken Loans started as a brick-and-mortar shop in 1985 before going online at the turn of the millennium. It holds the position of one of the country's most popular lenders, and with good reason. First-time homebuyers are drawn to this mortgage company because of the wealth of guidance they get. Quicken Loans’ range of products includes Freddie Mac and Fannie Mac loans that ask for a down payment of as little as 3% of the property purchase price.
Besides offering applicants quick and stress-free pre-qualifications, Lenda has made a name for its concierge service that guides you through the application process. Their platform makes it easy for you to keep track of the documents you need to submit each step of the way. It even sends alerts to remind you which documents you still have pending.
Within a few minutes, you will know how much you qualify to borrow from Rocket Mortgage. This company takes its service a step higher by offering you support from a mortgage expert online. Their digital platform works effortlessly on mobile devices allowing you to monitor your application on the go.
This company makes life easier for would-be homeowners by allowing them to complete the entire application process online on a user-friendly platform. Documents can be uploaded there so that human interaction can be avoided through the whole process. First-time homebuyers are attracted to Guaranteed Rate because of the relatively low down payment required.
Households that fall in the middle-to-low income bracket will appreciate the affordability of Sun Trust home loans. With them, you can get fixed and adjustable rate loans backed by the Federal Housing Association or the Veterans’ Association.
Visit an online resource you know for more detailed reviews of various top-rated lenders. Or talk to your real estate professional for local lenders they recommend.
87 Knox St, Lawrence, MA 01841
12 Trinity Drive, Nashua, NH 03063
Buying your beginning home is one of the significant steps you will make in your life. It can be both exciting and daunting, which cause many first-time home buyers to grab the first home that falls within their budget quickly and others get themselves stuck in a mortgage that they will pay for a better part of the life. Real estate advertisement doesn't make it any easier. Well, you can relax now. Here are six helpful tips to alleviate the burden and mistakes involved in buying your first home.1. First Things First, Be Prepared. As overwhelming as it seems, you must take a moment to get yourself ready before delving into the first-time home buying process. Take a moment and consider the type of home you want, the amount of money available for the purchase, and the amount of mortgage for which you qualify. You also should figure out how you want to go about the search. Do you need a real estate agent? Do not begin the home-buying process until you satisfy these conditions. 2. Carefully Scout for Your Dream Home. The process of searching for your dream home can be very challenging, which is why I advise first-time home buyers to explore thoroughly. Some home buyers, especially first-time home buyers, give up the search after the second tour. They resolve to rent or settling for just about any home on their list. To alleviate the frustration and stress that comes with the search, employ the service of a real estate agent. You could also search for listings online and ask for recommendations from friends and family. Do not do it yourself. 3. What Financing Options are Available in Your State? Although the program varies by state, every first-time home buyer has a couple of financing options to help them purchase their dream home. It is best to consult with your real estate agent for a suitable financing option. 4. Don’t be Scared to Negotiate the Offer. A common mistake seen among first-time home buyers is that they tend to compare the prices of houses at different locations. That is wrong! The locality of any home has a tremendous influence on its pricing. As a first-time home buyer, it is safest to ask your real estate agent for help. The agent is vastly knowledgeable in the field, as such, is in a better position to conclude the sale at a reasonable price. 5. A Home Inspection is Compulsory! Require a home inspection regardless of how flawless the home appears. Be sure to have a professional inspect every nook and cranny of the house before closing the deal. If you find faults that the seller willingly withheld during bargain the sale could fall through. You could also ask the seller to make repairs to seal the deal. 6. Close the Deal or Move on to the Next Home. There are two options available after inspection. You either close the deal or continue your search for your dream home. If the home inspection went well (that is you like what you saw), then it is time to close the deal. Congratulations on your first home!