When it’s time to find a new home, you need to arm yourself with all of the information you can find. Not only so you can find the best residence for you and your family, but so you can enjoy your new home without the stress of financing woes as well. To make things easier for those looking for houses and finance help throughout the Cleveland, Ohio and Detroit, Michigan areas, Signature Mortgage Corporation of Canton, Ohio has developed a very helpful mortgage shopping plan. By following the tips and tricks offered by Signature Mortgage, you can discover how to ask for an estimate of loan closing costs, discover the best home loan interest rates, and obtain low-rate mortgage loans. Take a moment to look over the basic guide created by this Akron, Ohio area company before you begin your house and loan hunting task.
One of the biggest issues facing potential homebuyers is what to do after discovering the ideal space. Finding a house in Cleveland or Detroit that fits your family’s needs may seem like a troubling task, but it’s nothing compared to the difficulties you’ll have to deal with if you don’t have experience with mortgage shopping. Once you’ve spoken to a realtor about the house you’re interested in purchasing, you’ll find the tips offered by Signature Mortgage Corporation to be invaluable.
Demand a Written Estimate of All Closing Costs Before Loan Application.
Most loan officers get cute and only mention the lending fees ($900 -$1500) as closing cost. The truth is there are title-related fees that can be an additional $1500 or more depending on your loan size. Stay far away from lenders who only tell part of the story. Not a good sign!
Source: Signature Mortgage Corporation
If you find yourself dealing with a lender that skirts around the issue of loan closing costs, it may be in your best interest to turn elsewhere. As there can be a significant amount of money involved with loan closing costs, you don’t want to assume you have a complete estimate only to find out later that you owe much more. The only way to ensure that you receive a completely honest estimate is to take the time to do some research on lenders in your area or those who offer online services. If you do opt to work with a company that does business online, make sure to take the appropriate steps before giving out any credit card information.
Do Not Give Your Credit Card Information Until You Are Comfortable with Your Decision to Move Forward.
Internet Lenders are “QUICK” (hint – hint) to get your $500 credit card deposit before you have any idea of your final rate and cost of your loan. Stay away from high pressure closers in the industry. Not a good sign!
Source: Signature Mortgage Corporation
Many lenders are concerned solely with their own profit. You may think you’re working with a mortgage banker that cares about your individual case, but you may wind up disappointed with the results if you’re not careful. When it comes to mortgage shopping, it’s better to take your time in order to find the best lender and home loan interest rate. Otherwise, you may end up losing a $500 credit card deposit and find that your “low-rate mortgage loan” is actually costing you a fortune.
Demand a Written Rate Lock Disclosure That Insures Your Negotiated Interest Rate Is Locked for a Period of at least 30 Days BEFORE You Make Your Deposit or Application.
Source: Signature Mortgage Corporation
Getting your home loan interest rate in writing is extremely important. Not only will this help you to obtain your low-rate mortgage loan, but it will protect you in the event the lender wants to increase the agreed upon rate. By making sure that your lender provides you with a signed and dated document, you can ensure that the original price is what you will pay and nothing more.
While it may seem like there is a lot to be wary of when working with a lender to get a home loan, it’s all a matter of doing your research. By choosing to go with a mortgage company that does not reward bankers for selling certain products, you can feel confident that you will get the mortgage solution that best fits you and your family. Thankfully, Signature Mortgage Corporation in Canton is one such company. With their strict “No Steering” policy, mortgage experts from Signature Mortgage Corporation work to find the loan product that fits your budget—not theirs. This Akron area company makes sure that each potential homebuyer is given one-on-one attention from an experienced banker through the entire process.
To learn more about Signature Mortgage Corporation or to find additional mortgage shopping tips, visit their website at www.smcinc500.com. You can find all kinds of information on current home loan interest rates and what to expect with loan closing costs. If you have any questions for this Akron, Ohio area company, don’t hesitate to give them a call at 800.241.1996. They’ll work with you to find the low-rate mortgage loan you need to get the Cleveland, Ohio or Detroit, Michigan home you want.
Signature Mortgage Corporation
4790 Douglas Circle NW
Canton, Ohio
Ph: 800.241.1996