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Find the Best Mortgage Lender for Your Dream Home Five tips for shopping for a mortgage and closing on your home.

BY JENNIE BUTLER

Before buying your next home, it’s smart to shop around and find the best lender for you. Here are some tips to think about to help make the best financial decision and close on your home quickly.

1. Know what you can afford and check your credit score.

Buying a home is more than just a monthly mortgage payment. Think about the mortgage, property taxes, insurance, and monthly maintenance and utilities costs that will go into your home. Make sure you can save for emergencies and home repairs. Check your credit report for accuracy. A higher credit score may help you get a lower interest rate on your mortgage.

2. Compare rates from several mortgage lenders.

A quick search can show you the best mortgage rates online. Remember that this rate quote is an estimate and a lender or broker will have to pull your credit information and process a loan application to provide an accurate rate. If you are satisfied with the product they can lock in the rate.

3. Ask for referrals and ask the right question.

After you compare rates, ask friends, families, your real estate agent or even look at online reviews to narrow down your lender options. Once you have it narrowed down, ask questions to determine their turnaround times, down payment requirements and even how they communicate with their clients.

4. Understand the risks and options.

Mortgages can have many features, from interest rates to adjustable rates to penalties for paying off early or a balloon payment. Ask your lender what your payments will be throughout the life of the mortgage so you can gain a full understanding of your loan.

5. Get pre-qualified.

Homes are moving quickly in Williamson County. A mortgage pre-qualification letter can give you an edge when bidding against other buyers because it is evidence that the home is likely to close. Then when you’re ready to make an offer on a home, the lender will already have the information they need to process your loan.

Buying a home is one of life’s biggest investments. Make sure you do it right by finding the best lender for you.

JENNIE BUTLER Mortgage Lender | NMLS #590626 Jennie will help you explore all financing options and choose the mortgage product that’s right for you. Securing a mortgage is more complicated today but she can smooth the process and make it less stressful.

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