The best time to begin thinking about financing your new home is well before you begin looking for one. For most home buyers, there’s a lot to think about! Finding the best financing for your home can include many factors. For example, the typical considerations are: the price of your new home, current interest rates, the down payment you want to make, the length of mortgage, different sources of financing, and your credit history.
These are common factors but sometimes financing considerations also include things like mortgage insurance, title insurance, bridge loans, or other financial instruments. Sound intimidating?
Not to worry. It’s actually simpler than it sounds and I stand ready to guide you through the entire process. To begin with, get my free, no obligation Homebuyer Financial WhitePaper. It contains a good overview of the financing information you need to know and all the frequently asked questions that I often get from home buyers when they are looking at Northwest Indiana Real Estate.
It is still OK to look at homes prior to having a Pre-Approval letter from a lender, however if an offer is to be made on a house, most likely a Pre-Approval will have to be provided to show the seller that you are serious and that the bank thinks that you are credit worthy.