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Finding the Best Mortgage Lender
Meeting With the Mortgage Lender
A North Carolina mortgage process is pretty much the same process as all other states. You start by submitting an application with a mortgage lender (mortgage broker, mortgage company - they have many names). That process usually begins with the first meeting with the bank or other home mortgage company. For this meeting, you will need to bring information which outlines both your income and your long term debts. These days, bad credit is not as big an issue as it was in years past. Many mortgage companies have special programs for home buyers with bad credit.
Completing the Loan Application
First, the lender will give you the application, called the 1003 Mortgage Application, and you will need to gather the following items to complete this:
Qualifying for the New Home Loan
Having these items on hand when you visit the mortgage lender will make the application process go much faster and smoother. Additionally, when you submit this application, you will also have to pay the application fee and the fee for the appraisal. At the conclusion of this meeting with the lender, you will have a good idea of the amount of and type of loan for which you qualify. Also, the mortgage lender should then give you a good faith estimate of the amount of the closing costs. After you submit the completed mortgage application, with all of the supporting documentation, you should be notified within a matter days whether or not you qualify.
Don't Slow Down the Home Loan Process
After you complete the application, the lender will verify the information submitted. Your employment, bank balances and other information will all be verified, so make sure it is accurate. Also, respond quickly if the lender requests additional information. Make sure to give them a phone number where you can be reached. After the pre-qualification process is completed, you can start looking for that new home! We also offer some tips on selecting a good real estate agent, if you are planning on using one to help you in your search. Plus, we offer mortgage calculators to give you a sneak peek at how much your projected monthly payment will be. Additionally, try to determine if the real estate you are interested in is located in a flood zone. The lender will want to know that.
|¤Whether you are looking for a mortgage loan for a new home or a home equity loan to consolidate debt, you have found the right site. We offer tips on working with North Carolina's best mortgage companies. Plus we offer Real Estate information to help you find that new home. Make sure to bookmark us and check back often.
¤ Swansboro NC Mortgage Lenders are experienced and will give you a great small town feeling.
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Work with a reputable mortgage lender and you will be in your new home in no time. © 2006 Swansboro NC Real Estate. All rights reserved.