When looking to finance a house, it’ll be important to get a mortgage from a reputable mortgage lender or mortgage company like The Minnesota Mortgage Guy. Minnesota Mortgage Guy will provide you with the mortgage lending options you need in order to purchase a home. Whenever you’re seeking a mortgage, it’s important you know where you can get one as well as the qualifications to get a mortgage, the interest rates, and the available programs. Knowing these factors will allow you to find the best lending option for your individual needs.
An option you can take advantage of if you are in the market for a mortgage is a mortgage company. These are organizations that specialize in providing mortgages. Compared to banks, these entities don’t focus on providing loans for vehicles or credit cards. They focus on providing you with financing for a home. As a result, they’ll have more access to all the lending options that are currently available. Minnesota Mortgage Guy specializes in this field. Therefore, you’ll be able to get more guidance and expertise when working with this type of organization.
As an Eagan Home Mortgage lender, one of the most beneficial programs is the FHA loan. This is a government backed financing option that allows you to get a mortgage for a very small amount of money down. In fact, you can get a FHA loan for as little as 3.5% down. You can also get this mortgage if your credit score is below average. Another program that you can take advantage of is the VA loan which is offered to veterans and their families. This loan does not have a down payment requirement and offers competitive interest rates. However, you need to be affiliated with the military to qualify.
Whenever you get a mortgage, it’s important to know the interest rate. You’ll need to make sure that you get a mortgage at an interest rate that’ll result in a more affordable mortgage payment. Fortunately for borrowers, the interest rates are quite low as of now. With a good credit rating you can get a mortgage at rates at 4% or under.
Need help to prequalify for a mortgage loan? We're here to help! Ask us about an Eagan mortgage loan.