Avoiding Financial Stress

By asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. There are certain approaches that you can take while mortgage shopping that can cost or save you money.

It is still true that the better qualifications you have, the lower your interest rate will be. However, there are mortgages available for almost everyone; it's the interest rates or the down payments that vary.

Before speaking with a lender, know what monthly dollar amount you feel comfortable committing to. Then when you discuss mortgage pre-approval with your lender, it is easier for you to determine the monthly amount and what value of home the monthly amount translates into. Do not put yourself in the position where you will be paying more each month than you intended simply because the "dream" house requires it.

Do your research on the types of mortgages available to you and find the one that best suits your needs. There are a number of considerations to be made in terms of finding the best mortgage for each individual:

*What type of market are you in? Are the interest rates falling or rising?
*Do you want a fixed mortgage rate, where you will always know what your payment is going to be?
*What are your long-term goals? Do you intend to resell the property? Do you only need the mortgage for a short time?


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Savannah Multi-List Service is a large Internet real estate site with thousands of homes for sale and rent with photos and descriptions. All listings on www.neighborhoodrlty.com are pulled directly from the Savannah Multi-List Service. Any mortgage information supplied on www.neighborhoodrlty.com is subject to credit approval. Mortgage rates are not guaranteed and use of any particular lender is not required. For certain bonuses and promotions specific lenders and/or closing attorneys may be required; all interested parties should verify this information before submitting an offer on any property. For all new construction listings, the builder may at any time, and without prior notice or explanation, exercise creative construction and/or variance. All prices are subject to change. Status of properties not guaranteed. Please check status prior to submitting offer. All information provided on www.neighborhoodrlty.com is deemed reliable but is not guaranteed and should be independently verified. Neighborhood Realty is not responsible for or liable for misinformation, typographical errors, misprints, or other errors. Neighborhood Realty does not discriminate based on race or color, national origin, religion, sex, familial status or handicap.


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