If you are a Rosemount first time home buyer, MN Mortgage Guy can help you secure financing you’re your first home loan. Anyone that is looking to get a mortgage loan from a mortgage company will want to make sure that the lender is reputable. They will want to make sure that the mortgage lender is properly licensed and has a good track record of providing excellent service. Whenever you are seeking a mortgage you will want to evaluate certain things; that include, the reputation of the company, the loan programs it offers, and whether or not it offers market interest rates.
One of the first things that you will want to do when getting a mortgage is to research the mortgage company. You will want to make sure that they are reputable and trustworthy. The first thing that you should look into is if they have a MLS number. This is a licensing number that each legitimate lender must have in order to provide home loans. Along with making sure that they have a valid MLS number, you will also want to make sure that they have a favorable reputation. It will be important to make sure that they have a number of good reviews from satisfied customers. You can go online and read their reviews to find out more about their track record among customers.
Another thing that you will need to evaluate when seeking the services of a lender are the programs that they offer. All reputable mortgage lenders offer conventional home loans, FHA loans, and VA loans. You will need to make sure that they offer all of these if you are looking to get a mortgage that best meets your needs.
We can help you obtain a Rosemount first time home buyer loan. A conventional loan is the most common type of mortgage that lenders offer. With this loan you need to put 20% down and finance the remaining 80% of the purchase price. Most of these loans require a good credit rating, so this should be a priority if you are looking to get a conventional mortgage.
Another lending option that mortgage lenders offer is the FHA loan. This is a type of financing that is offered by the federal government. It provides borrowers with a loan on more reasonable terms. FHA loans offer individuals with a credit score of 580 funding for as little as 3.5% down. As a result, this loan option is ideal for first time home buyers as well as people with limited funds and an average credit rating.
The VA loan is a financing option that is offered through the Veteran’s Administration. With this type of loan, you can get financing at low interest rates and no money down. A VA loan also offers very low closing costs as well. Therefore, you will not have to provide much funding to get this type of loan. It is ideal for military veterans as well as current military personnel and their families.
The last thing that you will need to evaluate when employing a mortgage lender are the interest rates of their available programs. You will need to make sure that they offer interest rates that are the same as what is offered in the market. It will be important to make sure that all the programs offer interest rates that are not too high. As of today, the current interest rates are between 3.5% and 5.5% for those with good credit. Anyone who has credit issues can get a mortgage at an interest rate that is no higher than 6%.
We're here to help! Ask us about the Rosemount first time home buyer program.