Getting a Home Loan - Are You Ready to Fly?

Mike Hammel, a mortgage broker with C2 Financial Corporation, shared a list of 83 ways you may hit turbulence on the road to homeownership.  Here are just a few....

• Buyers not telling the truth on loan applications
• Late payments showing on Buyer credit report
• Buyers make a large purchase on credit prior to closing
• Seller is unable to clear liens on the property
• Buyer loses job prior to closing
• Appraised value is lower than purchase price
• Inspectors or appraiser are not available as soon as needed
• Seller needs more time to move out delaying the close date 

Your Financing Strategy Matters! Lenders can help you be aware of the do's and don'ts of using your funds or credit while in the process of purchasing a home.  Your lender can also be helpful in overcoming some of the obstacles you might encounter - or being creative in finding ways to help the home purchase move forward after incurring some unforeseen turbulence.   

When obtaining financing for purchasing a home, selecting the right lender is just as important as selecting the right Realtor.  Look for a lender:

• Who is local to your market 
• Has great communication skills - with you, your agent and the cooperative agent, and the title/escrow officer 
• Has a great relationship with the lender's processing and underwriting departments 
• Is creative in removing contingencies when needed and possible, and 
• Has your best interests in mind while working with you on your home purchase.

If you are thinking about buying a home and want a referral to Mike Hammel, or another local mortgage lender, let me know!