You may be asking yourself: “Do I really want to own my own home? Can I afford one? Where do I start?” The answer to these questions is: yes, yes, and right here. The best place to start is with a mortgage lender affiliated with the Mortgage Bankers Association of America. To join the M.B.A., a lender must pledge to meet strict ethical standards in the conduct of business. Your local Rhode Island newspaper, the yellow pages, the Internet, and phone book are also great alternatives.
Once you have a short list of possible lenders, dig a little deeper. Additional costs such as origination and application fees can alter the final cost of your loan, even if the initial interest rate between two companies are the same. Talk with several lenders before you decide. Most lenders need 3-6 weeks for the loan approval process. Your real estate broker will be familiar with lenders in the Rhode Island area and what they are offering.
Another avenue might be to look in your local newspaper’s real estate section. Most papers list interest rates by local lender. You can also find FHA approved lenders in the yellow pages of your phone book.
Ultimately, you will want to get pre-qualified for a loan. That means you go to a lender and apply for a mortgage before you actually start looking for a home. Then you’ll know exactly how much you can afford to spend and it will speed the process once you find the house of you dreams.
Our featured South Carolina Home Financing partners:
With interest rates at all-time lows, there has never been a better time to refinance.
Take advantage of getting additional cash out to improve your home, buy a new car, or pay for a child’s education. GuideToLenders.com will provide you with competitive loan quotes from up to four lenders. Different types of refinance loans offered are 30-year fixed, 15-year fixed, adjustable rate, and interest only. You’ll receive the best rates and options available, regardless of your credit. It takes less than a minute to apply, and you have nothing to lose. Find your refinance loan right now.
Shopping for a loan has never been easier. MoneyNest is an online loan marketplace that allows you to send a single application to over 400 lenders. Submit your application and get access to low rates on a second mortgage, refinance, home equity line of credit, or a home improvement or debt consolidation loan. Get up to 4 FREE quotes.
Countrywide Home Loans
Qualified homeowners – even those with less-than-perfect credit – may now access their home’s equity to get cash, consolidate debts, and lower monthly expenses. Countrywide Home Loans may also help applicants who are self-employed or have high consumer debt. We offer competitively priced home loan programs, including fixed rate, adjustable rate, refinance and home equity loans.
DebtWave Credit Counseling, Inc.
DebtWave Credit Counseling, Inc. offers a program to its clients that enables them to repay their debt in a timely fashion. We specialize in working primarily credit cards; however, we are usually able to assist clients with any bills that are considered to be unsecured. Below is a list of benefits that we are typically able to obtain for our clients:
– Reduce your interest rates
– Lower your monthly payment
– Consolidate into one monthly payment
– Eliminate late & overlimit fees
– Stop harassing phone calls (if behind)
Our featured partner for Investment Assistance:
The advantage of having an easy-to-follow, step-by-step investing process with easy-to-use Web-based tools is that you rely on facts to make decisions – not emotions. The benefits are less stress, better results and, dare we say it, fun.