mortgage financial advisors

Buying a home is always a long and difficult process that’s oftentimes full of complications and high emotions. From finding the right realtor to actually picking out the house, the entire process can bring on every emotion from frustration to joy. Not to mention, once the house is finally found, getting the loan is another hurdle that presents its own challenges. However, with the right and best mortgage lender, you can finally reach your dream of owning your home.

But where do you look for a mortgage lender? How do you find one and, when you do finally find one, how do you know they’re good?

Besides finding a realtor and the actual house, finding a mortgage lender should be one of your top priorities when you begin the house searching process.

What Is A Mortgage Lender?

Before you can even begin searching for a mortgage lender, it’s important to understand what a mortgage lender is and how they are different than mortgage brokers. Many times, a mortgage broker and lender are used synonymously, but they couldn’t be more different. Both a broker and a lender will assist you in getting the funding you need to buy a home. However, a broker is the middleman in the process that works with the lender and you.

A mortgage lender, on the other hand, is simply a financial institution that produces the loan for you. They are the ones that issue the loan. You can take two avenues when purchasing a home – through the broker or going straight to the mortgage bank. The benefit of going straight to the lender is that mortgage lenders are also often large banks that you probably already have a relationship with.

What Should I Look For In A Good Lender?

Not all lenders are the same. Over the years I have seen several mistakes when it comes to choosing a lender. The most common one is not shopping around and assuming all lenders offer the same experience and same product. Take the time get a side by side comparison.  Another mistake is only taking into consideration what the rate is that the lender is offering and not factoring in the fees and expenses, which can very wildly from place to place. Lastly, getting the wrong type of mortgage. There are several types of mortgages from fixed rate to adjustable rate, FHA, VA, and conventional just to name a few! Which one is right for you?

Fortunately, we have done all the work for you because we have already identified a few local lenders who are very cost effective and have some of the most competitive rates in the area. Most importantly these individuals take the time to fully understand your situation before giving their advice and recommendations.

I Know I Want To Buy, But How Can I Save?

Many people know they want to eventually purchase a home. However, it’s oftentimes difficult to save the money needed for a down payment.

How much will I need? What kind of house can I afford? What are my options? These are just some of the questions that many first-time and even seasoned buyers have if they don’t know their financial picture.

If you want to successfully purchase a home, it’s important to know where you’re at financially and set a plan in place. A certified financial adviser will take a look at your entire financial picture so that you can purchase your dream home.