Buying Highlands NC Real Estate, Looking for Lender
Looking for a lender is an important part of buying Highlands NC real estate. Much like finding the right REALTOR, finding the right lender will make buying a home a smoother proposition. However, finding the right lender takes preparation. From getting your finances in order and having documentation readily available to understanding the local real estate market and everything in between, you should be ready when you start looking for a lender. Your Highlands NC REALTOR will be helpful in recommending lenders who are familiar with the area. But, your part comes with the decision of who to use.
How to best prepare
A great first step is to get your credit score. A low score can be repaired but will take a little time. Additionally, a low score can affect the loan limit loan as well as the interest rate associated with a loan. Of course, having your documents in order is a critical part of getting a home loan. Tax statements, bank statements, and information related to savings, retirement accounts, and investments should be readily available.
What type of loan are you looking for?
It is a good idea to research what type of loan you are looking to acquire. Loans vary by length of time, typically a 15 year or a 30 year. Additionally, loan types can be interest-only or adjustable-rate loans. Knowing what you are looking for will help. However, you should be able to ask a Highlands NC mortgage broker questions to help determine what type of loan makes the most sense.
Ask friends and family for recommendations of lenders. Your Highlands NC REALTOR will also be a valuable resource. While you do not have to use a lender from the Highlands NC area it can be helpful as they understand the market and vacation home purchases. The important thing is to find a reputable lender and understand your options. Getting prequalified for a mortgage is an important part of the buying process.
Learn more about buying Highlands NC real estate
Contact me, Lynn Kimball, today to learn more about buying a home in Highlands NC. I welcome the opportunity to update you on the market while getting you familiar with the buying process. Let my knowledge and experience serve as your guide to buying Highlands NC real estate.
Click here to read “5 Tips for Finding the Best Mortgage Lenders” from Nerd Wallet.