How a Greensboro, NC mortgage loan officer can help you buy your first home
Entering the real estate market for the first time is an exciting endeavor that can involve a lot of stress if you do not have access to the right expertise. When seeking out professional assistance to support you throughout the home-buying process, real estate agents and financial advisors may be the first characters that come to mind. A mortgage loan officer, however, is another valuable type of service provider that can help facilitate a successful purchase.
Mortgage loan officers help clients pinpoint the most suitable types of mortgages at their disposal. If you are searching for a reliable mortgage loan officer in Greensboro, NC, Mortgages by Jill is your top choice. Continue reading to learn how this type of service can assist you as you purchase your first home.
Pre-qualification
First-time home buyers typically do not have enough cash to make a full purchase without applying for a loan. The key is to understand which properties are within your budget based on the amount of money that you have saved for a down payment. In other words, it is important to know what percentage of your purchase will be covered by your mortgage. A pre-qualification is an estimation of the loan amount that a prospective buyer is eligible for based on a number of factors. Mortgage loan officers can provide an extremely accurate pre-qualification, which will inform your search. They will take into account your credit history, current loans, income, and other relevant factors.
Education
Paying down a mortgage can take several decades depending on the borrower’s income and the total value of the property. Carrying over a loan of this size is a major decision which should be made using a strategic approach. Mortgage loan officers provide useful information surrounding the different types of mortgages and which options are best suited to your needs. Options like the NC Home Advantage Mortgage or the Core City Homebuyer Incentive Program are important to know about to ensure you save as much money as possible.
Submitting applications
Filing an application for a mortgage incorrectly can affect your access to funds and delay the entire home-buying process. These applications are highly involved, and should include a variety of financial documents such as the applicant’s tax returns, pay stubs, bank statements, and more. A mortgage loan officer can ensure all of your forms are up to date, and in compliance with the lender’s application guidelines.
Loan processing
Once you have your eye on your first home, we guarantee you will want to move in as soon as possible. Unfortunately, mortgage loan processing times often delay real estate purchases. A mortgage loan officer can expedite this process, providing the client with access to funds faster. One of the main causes of delay is when an underwriter requires clarification on the applicant’s documents or other information. A mortgage loan officer can answer questions on the client’s behalf, providing prompt, clear responses that make it possible for banks to disperse funds.
Buyer assistance programs
If you are ready to buy your first home, but are unsure of whether or not you have enough upfront cash, a buyer assistance program can help. As a mortgage loan officer in Greensboro, NC, Jill Burgess has access to a variety of resources such as NC 1st Home Advantage 8K Down Payment Assistance, the Housing Connect Greensboro 10K Down Payment Assistance Program, and more. Working with a professional ensures you never miss out on a great financial opportunity.
Contact us today to learn more about how a mortgage loan officer in Greensboro, NC can help you navigate the complex world of real estate.
