How Do I Choose The Right Lender For Me?

 

There are some great tips in this video. Choose your lender carefully. Look for financial stability and a reputation for customer satisfaction.

Be sure to choose a company that gives helpful advice and that makes you feel comfortable.

A lender that has the authority to approve and process your loan locally is preferable since it will be easier for you to monitor the status of your application and ask questions. Plus, it’s beneficial when the lender knows home values and conditions in the local area.

Do your research, and ask family and friends.

What Happens After I’ve Applied For My Loan?

 

Once you’ve supplied the 6 required piece of information and included any other information the lender deemed necessary, you’ll receive a Loan Estimate within 3 business days.
Once all the information has been verified IF the loan is approved the lender will provide a Closing Disclosure to you three business days before loan consummation. T
hey’ll usually set a date for loan consummation – which may also be at your closing meeting.
Closing is basically transferring ownership of the property; consummation is commmitting to the loan itself.
Once both are completed, you should be planning your move-in.

How Can I Find Out About Schools & Community Resources?

 

The video puts this in more visual terms, but basically, contact the local Chamber of Commerce for promotional literature or talk to your real estate agent about welcome kits, maps, and other information.

You can get information about school systems by contacting the city or county school board or the local schools.

You may also want to visit the local library. It can be an excellent source for information on local events and resources and the librarians will probably be able to answer many of the questions you have.

How Can I Determine My Housing Needs Before I Begin The Search?

 

Like the video shows, your home should fit the way you live, with spaces and features that appeal to the whole family.

Before you begin looking at homes make a list of your priorities – things like location and size.

  • Should the house be close to certain schools? your job? to public transportation?
  • How large should the house be?
  • What type of lot do you prefer?
  • What kinds of amenities are you looking for?

Establish a set of minimum requirements and a ‘wish list.” Minimum requirements are things that a house must have for you to consider it while a “wish list” covers things that you’d like to have but that aren’t essential.