2006-09-25 11:31:59 · 6 answers · asked by JohnnyCash 1 in Business & Finance ➔ Renting & Real Estate
What is the interest rate.
The interest rate changes daily (or can change daily)
How many years can you finance?
Check on more than one bank. Some banks will charge you more fees for filing than others. You will be charged attorney fees also. This is to complete and file the deed of the house. They will charge you morgage fees, application fees, and so forth. There are also companies out there that will charge you a fee if you decide to cancel before the contract is in full force. (Watch out for them).
You can always find a better rate somewhere else.
Try to go through the bank themselves instead of a broker.
The broker charges fees on top of the actual bank fees and mortgage payment. (They usually get 2-3% of the loan)
Questions on the house itself:
Find out how long it has been on the market (If it has been for awhile then you will have better chances to have the price dropped)
Find out reason it is being sold.
Check the ceilings for leaks, water spots, any damage.
They will give you a list before you purchase it showing what the inspector states could or is wrong with it.
Just a word of advice (previous homeowner)
Do not get to excited and rush into buying your first home. I did. We ended up having to many problems. We ended up not being able to sell the house for what we paid for it. Just take your time. All brokers will try tell you that this is the home for you.. etc... Dont rush.
2006-09-25 11:38:48 · answer #1 · answered by Keith Perry 6 · 0⤊ 0⤋
Your Realtor will put you in touch with a professional loan officer who will ask you many questions in order to understand which lender will loan you the money. Speak with a loan officer first before doing anything else.
2006-09-25 21:59:08 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Although not mortgage related, I imagine your trying to buy a home for the first time.
The reports I have on my site will help you a lot, no matter where in the country your at.
I suggest #4 it explains the step by step process.
Request it at http://www.myhomeinvegas.com
P/S: if you need a pre-screened buyers agent, let me know.
2006-09-25 19:44:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You need to know your interest rate and the type of loan you are getting -- is it a 30 year fixed, an A.R.M, interest only, etc. You also need to know what sort of lender fees you are responsible for.
2006-09-25 18:35:12 · answer #4 · answered by tsopolly 6 · 0⤊ 0⤋
Questions You Should Ask Prospective Loan Providers:
http://www.searchlightcrusade.net/posts/1124287216.shtml
And every last one of them is important. Not that there is any penalty for lying, on most of them, so sign up for a back up loan.
2006-09-25 18:41:03 · answer #5 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
Knowledge is power and luck prefers the prepared mind. Here from our research department.
Federal Reserve, pamphlet on acquiring the best mortgage: http://www.federalreserve.gov/pubs/mortgage/mortb_1.htm
US GOVERNMENT CONSUMER TIPS ON HOMES: http://www.consumer.gov/yourhome.htm
Buena Suerte
2006-09-25 18:46:14 · answer #6 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋