First time home buyers may not understand the mortgage loan process. They may not know what to expect in the search for property. There are many types of loans and plans that can be daunting. If you want specialized help to navigate through the process, then a mortgage broker in West Hartford can be your guide. They can provide you with tips and aids to get pre-approved so that you can purchase the house of your dreams.
To get approval for a mortgage brokers in West Hartford, CT you will need to be able to provide proof of steady income, low debt to income ratio, good credit, money for a down payment, and identification for citizenship. Companies like to see job stability. If you have been in the same job or career for the past two years and can meet all the guidelines, you should have no problem getting pre-approved.
You can spend a lot of time looking at homes for sale. But if you do not know how much you are approved for, buying a home may never become a reality. Many real estate agents and brokers do not take buyers seriously, if they have not gotten a written authorization from a bank for approval. They do not want to waste their time with someone that they feel will window shop. Once you are approved, agents will clamour for your attention.
The type of loan you can get from mortgage brokers in West Hartford, CT is dependent on your needs. If you or your spouse served in the military, you can qualify for a veterans loan. Older persons looking to supplement their retirement income can choose a reverse mortgage. Interest only loans and adjustable interest rate loans have received a bad reputation, but they can still be the perfect fit for the right person.
Banks and lending sources change rates everyday, according to the market. You can lock in your interest rate when you use a mortgage in West Hartford. Contact Greytree Mortgage for the best plan that has the best rate and highest approval amount.
