Expert Home Financing Advice important to choose the right people to work with during your journey to homeownership. That starts with your real estate agent, and continues with your mortgage loan officer.
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Mortgage loan officers are highly trained and experienced professionals who can guide you through the entire mortgage process, or help you refinance your existing mortgage. They are knowledgeable about current market trends and rates, and can help you find the best loan to fit your unique financial situation.
Loan experts take a full range of factors into consideration when providing mortgage advice, such as your other debts and home-related expenses. They can also advise you on several different loan options available, which is something that you might not be able to get when you go directly to a bank.
A home loan professional can provide pre-approval and mortgage prequalification services, which are essential for first-time buyers. These can be done in person, by phone, or online, and will require you to supply basic income and expense information, as well as complete a credit check. A mortgage prequalification is an excellent way to gauge your affordability, and will give you a benchmark idea of how much you can afford to buy.
A loan expert can also provide you with a list of key documents to have on hand during the mortgage application process, as well as advise you on the mortgage closing costs that are associated with your specific situation. Closing costs are outlined on the Closing Disclosure sent to you three days before your scheduled closing date, and it is very important to review these carefully to ensure that all final terms and fees are accurate.