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Lot Size8,712 sqft
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Home Size2,100 sqft
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Beds5 Beds
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Baths3 Baths
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Year Built1995
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Days on Market9
Getting the Best Mortgage Possible
- Real Estate Tips
- Encinitas Home, Encinitas real estate agent, encinitas realtor, home buying advice, real estate tips
- December 28, 2015
When looking to purchase a new home, of course you’ll want to ensure you’re getting a great property for a great price. Why not apply those standards to shopping for a mortgage? There are countless lenders out there, and that means you shouldn’t settle for a mediocre loan. Here are a few tips on how to find the best possible deal on a mortgage:
Apply in person
This is one of the most important factors that determines whether or not you’ll be able to get the best possible mortgage—although plenty of lenders offer the option of simply filling out an online form to determine qualification, you’ll almost always get a better deal when you talk to a real person over the phone or in person. And whomever you choose to handle your loan, whether a loan officer or a broker, find out whether or not they are licensed from groups such as the National Association of Mortgage Professionals. You’ll also want to check out reviews online to get the whole picture.
Make sure your credit is in order
Any mistakes on your credit report should be straightened out months in advance, because that’s how long it usually takes.
Get recommendations
Ask people you can trust—your colleagues, friends, financial advisors or accountants—if someone’s gotten a good deal on such a significant investment as a mortgage, chances are they’ll be more than happy to give you a referral.
Consider your options
Not only could you work with a traditional mortgage lender, you also have the options of choosing a bank or mortgage broker. Banks typically have the least options, but you may be able to get a favorable deal if you have substantial assets, since it’s their own money they’re lending to you. Some credit unions or local banks may offer their own lending and more flexibility. Mortgage brokers will always have the most options, and can get you the lowest rates since they’re shopping among a wider variety of lenders. Again, if you can get a referral for a broker, that would be ideal—you’re going to want this person to be incredibly trustworthy.