As we close out a summer marked by rising home prices and limited supply, we’re conditioned to expect the inevitable end-of-season slowdown. But the change of season doesn’t
Finding A Chapel Hill Lender
When you’re in the market for a new home in Chapel Hill, you’re not only searching for a home, you’re searching for the right Chapel Hill lender. Searching for a lender and getting pre-approved for a mortgage is an important first step in the process of buying a new home.
If you’re in the market for a mortgage lender, it’s important to do your homework to find a lender that is the best fit for you and your financial needs.
Home loans are available from a number of institutions – from banks and credit unions to mortgage brokers. By working with a Chapel Hill lender before you find a home, you will have a better understanding of your financial situation and what type of mortgages you will qualify for.
Start with these easy steps to find the lender that is right for you:
Research Your Options
Not sure where to start? If you already have a mortgage, try contacting your current mortgage lender or bank; sometimes, being a return customer may give you negotiating leverage. Haven’t previously had a home mortgage? Ask friends and family that may have used a lender in the recent past; and talk to your real estate agent if they’ve had a good working relationship with any lenders.
When interviewing and meeting with potential lenders, ask each lender what the lowest rates they will be able to get for you are with the type of loan you are interested in. Don’t be afraid to ask questions when you don’t understand something.
If you talk to multiple lenders, ask them to supply you with a written explanation of the estimated charges, costs and/or fees that they [the lender] would require at the closing.
Make sure you take time to not only look at the interest rate, but to look over charges and fees, sometimes you may be better off with a slightly higher rate that has lower fees over the length of the loan.
Make A Selection
Once you have compared interest rates, fees, charges and types of loans you are interested in. Contact the lender to lock in your rate.
A native of New Jersey, Kristine attended Rowan University with a major in Early Childhood Education. After teaching kindergarten for one year, she discovered her passion for real estate and subsequen....
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