Fixed Rate, Adjustable, 30 Year, 15 Year, Balloon Payment
They Might Be Thinking:
How do you shop around for a mortgage?
Should I use the lender offered by the realtor?
Which credit score do lenders use for home loans?
What happens if my partner's credit score is low?
How does mortgage shopping affect credit score?
How long does a pre-approval for a mortgage last?
What is the interest rate on this mortgage?
What discount and origination points will I pay?
What are closing costs?
When can I lock in the interest rate, and will it cost me additional money?
What is the minimum down payment required for a loan?
Which documents will I have to provide?
Do I get a discount if I put more money down?
If the mortgage lender offers me a high total loan amount, should I buy a more expensive home?
Words That Might Be Encouraging:
I am very excited for you. Purchasing a home can be such a great experience.
If you have credit card debt or student loans, you will have a better chance of getting a better mortgage rate.
A penny saved, is a penny earned.
If you have any questions about any part of the process, I am happy to help you get your questions answered.
You are in control of the situation. Don't ever forget that.
Make sure you leave 20 to 30% in your monthly budget for savings.
Focus on trying to pay off your mortgage as soon as you can.
You can always walk away if the deal seems too good to be true.
Find a home that you love. Don't settle for a house that does not feel like a home to you.
Don't buy a fixer upper if you don't have experience and patience for a long remodeling process.
Words That Might Be Discouraging:
Maybe you should just keep renting or a while.
Why are you in such a hurry to own a home? You should be focused on having fun right now.
You just started working. How can you afford a mortgage?
Are you going to ask your parents for the down payment?
Are you going to get someone to co-sign the mortage for you?
Are you sure you know what you are doing?
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