Buying a house can be a fickle process. It’s not like grocery shopping, where you know what you’re going to be paying for your gallon of milk based on the price on the shelf. The money you pay for a home is much more complicated than simply putting in an offer for the listed price. Much of it has to do with the type of loan you get, the interest rate, and the state of the housing market where you’re buying. Working with a loan officer in Greensboro can help you get the best value for your home. If you’ve never considered what a loan officer can do for you, our team at Mortgages by Jill has put together a guide that highlights some of the ways we can help.
Extensive knowledge of loans
Not all loans are the same. They differ based on eligibility, interest rates, repayment terms, and more. Furthermore, loans are fluid, and what you learned about them last year before you started shopping for your home might not be true today. Your loan officer has extensive knowledge regarding the availability of mortgages so you can get the best loan for your personal and financial situations.
Help find the right loan
There are many different kinds of mortgages that are appropriate for different situations. For instance, you might need a jumbo loan if you’re looking for a home that’s more than $647,200 for a single-family home in all states except Hawaii, Alaska, and a few markets that are federally designated as high-cost. Those who are buying homes less than that amount can qualify for conventional loans, while those who served in the military will likely qualify for a VA loan. Ask your loan officer which is right for you, and you can work toward getting approval.
Assist with pre-approval
Getting a pre-approval before shopping for your home can help to save you boatloads of time. Rather than searching the area you want to buy in for any home you love, you can narrow your search to homes in the area that are also within a specific budget. Your loan officer can help you with a pre-approval before you even start the process, so you can shop more efficiently and truly stay within your budget.
Understands assistance programs
It can be tough buying a home. Not only is a mortgage sometimes intimidating, but putting tens of thousands of dollars down for a down payment isn’t always accessible, despite being able to afford the monthly mortgage payment. Fortunately, assistance programs can make it much more affordable to buy a home.
Offers suggestions to improve qualifications
There are often strict qualifications that homebuyers need to meet to qualify for a mortgage. Your loan officer can provide you with suggestions to help you be better qualified to buy a home. They’ll often suggest things like paying off some of your debt, continuing to save for a down payment, and more. While you might not be approved today, following your loan officer’s advice can not only help you get approved later but also save you money by getting a better interest rate.
Reach out to get started
You can get started on the home-buying process today by getting in touch with us at Mortgages by Jill. She’s a loan officer in Greensboro who can help you find the loan you need to get the right house for your family. Schedule an appointment by calling 336-740-9068 or send a message using our online contact form. We’re available to talk seven days a week.