This question is a common one, and often the buyer puts enthusiasm for house-hunting before the reality of financing. Let’s face it – there’s no upside to falling in love with a house, only to find the monthly payments would require you to sell your plasma on a regular basis. Also, we sometimes underestimate what we can afford and therefore short change our housing options.
Always talk to to a reputable lender to find out where you stand on downpayment requirements and what your monthly costs will be with your new home. My recommendation for a great lender follows later in this post.
Many buyers, particularly 1st time buyers, are somewhat nervous about talking to a lender. (“Who would want to bother with my little loan?” or “I don’t want to be blown off by a banker” or “No one’s going to loan us any money!”)
Keep in mind that lenders don’t make any money unless they loan money. Any good mortgage lender will be thrilled to loan the most modest amount of money. Additionally, a truly good & professional lender will let you know if now is not the time to be buying. And if that is the case, you’ll get good advice on what to do so you can buy in a few months or whatever time frame is needed to get you where you need to be.
Don’t hesitate to talk to a lender. Good ones make the home buying process SO much easier.
Now, for my favorite lender info:
I can highly recommend Christie Caldwell of Elm Street Mortgage -She’s been in the mortgage business since Moses was a boy, tells you the truth, doesn’t charge any junky fees and answers her own phone.
I don’t get a kick-back or referral fee for recommending her. I just like working with people who know what they’re doing!
She can do everything via phone, email and overnight mail if you need:
Christie Caldwell
Elm Street Mortgage
Email Christie
336-510-4444
