Shopping for the Right Mortgage

Finding a mortgage that's right for you should be easy. But there are many programs to choose from and many ways to structure a loan. Different loan programs will offer benefits that appeal to borrowers at different stages of life.

Before you begin, ask yourself these important questions:

• How long do you anticipate living in your new home?

• Do you expect any changes over the next few years in your household?

• Do you expect any changes in income due to promotions, relocations, retirement, inheritance, or pensions?

• Are you expecting a change in your investments?

• Do you have a retirement plan at work and do you contribute to it?

• Do you have other debt?

In the end, be sure you are given a complete picture of exactly how much your mortgage will cost you over the period of time you anticipate having the loan in place. This is the single most important factor you should consider when shopping for a mortgage. Not only does this data illustrate the bigger picture of your financial goals, but it also allows for adjustments should things change a little sooner than expected. A good time frame for this projection is anywhere from three, five, or even up to seven years.

When shopping for a mortgage, you should always evaluate your choices carefully and consider how they will fit in with your long-term financial plan.  

Call us for a free consultation. Together, we'll find the program that's best for you. 

Want to compete with cash buyers? Talk to us about Pre-Approval Plus, designed to help make you the most competitive offer a seller receives.