1 / 10

DREW MORTGAGE PPT_ 5 Things To Do Before House Hunting

If you are actively searching for a house, itu2019s almost time you understand that house hunting and shifting is not the only condition that needs a lot of planning. Mortgage approval is another crucial part of the process. In this presentation, Drew Mortgage Associates, leading mortgage lenders in Massachusetts, has shared the top 5 things to do before house hunting. Read now!<br>https://www.drewmortgage.com/5-things-to-do-before-house-hunting/

Drewmortgage
Download Presentation

DREW MORTGAGE PPT_ 5 Things To Do Before House Hunting

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Introduction • Homebuying is one of the biggest purchases a person makes in a lifetime. Everything starts feeling amazing as you check the various home options. • It’s great to explore your future home; however, you must stay informed. • Before beginning your house hunt, make sure you are ready for the overall home buying process. • Drew Mortgage Associates are leading mortgage lenders in Massachusetts. • We have listed out the 5 things to do before you search for an ideal home.

  2. Keep a good Credit Score • Keeping a good credit score for mortgage loan approvals is crucial. • A credit score indicates your financial trustworthiness. • A poor credit score can result in higher interest rates and big EMI payments. • Factors such as missing a credit card or loan payment, using a credit card to the maximum capacity, or credit report errors can be the hurdle between you and the mortgage approval. • Keep your credit score good, and try to pay your maximum debts before applying for the mortgage.

  3. Determine Your Budget • There is a lot more than the estimated property rate. • Analyze your income, check your expenses, savings, existing debts, and determine how much you can spend on a home. • Most homebuyers apply for mortgage loans. • This breakdown the total amount into small monthly payments. • There are possibilities of expenditure more than the expected amount and something that may or may not get covered in the mortgage plan. • Think wisely and check your options based on your budget.

  4. Save Enough For Down Payment • It is ideal for homebuyers to save enough funds to pay around 20% of the total property amount as a down payment. • It is recommended to keep your funds ready before you begin the house hunt. • This will make it easier for you to negotiate on the property amount. • Plus, your mortgage burden becomes less when a big amount is already paid during the purchase.

  5. Get Mortgage Pre-approval • When you get your mortgage pre-approved, it means that your mortgage lenders check your eligibility and approve a loan for a specific amount. • This is crucial when home buying is majorly dependent on the loan. • Pre-approval aids in better financial planning. • You can look for home options under your budget. • It also makes the loan process fast.

  6. Explore Related Expenses • There are expenses such as hiring a real estate agent, home inspector, home appraiser, mortgage consultant, notary, legal paperwork, home repair, shifting, and more. • People often forget to take these expenses into consideration while planning their finances for home buying. • There are mortgage options where you can apply for refinancing. • However, most of these listed expenses can be troublesome if not financially planned at the initial stage.

  7. Still Not Prepared? • Choosing one out of many wonderful options is tough. • With this ‘5 things to do before the house hunting’ checklist, Drew Mortgage Associates wants to keep you prepared for your home buying journey. • We are leading mortgage lenders in Massachusetts. • We can help you with pre-approved mortgage loans and the home buying process. • Get in touch with us today! Read More : 5 Things To Do Before House Hunting

  8. DREW MORTGAGE BRANCH OFFICES: Drew Mortgage Associates 196 Boston Turnpike Road, Shrewsbury, MA 01545 Phone: (508) 753-1656 Peabody Mortgage Lenders Boston Mortgage Lenders 1 Mt Pleasant Drive Peabody, MA 01960 232 Commercial St.Boston, MA 02109 Phone : (978) 750-1080 Phone : (617) 523-3060

More Related