Anxious about mortgage process?
Let’s be frank: It’s not easy to get a home mortgage. Nor is it impossible. In fact, millions of people apply for and obtain a new mortgage every year.
If you want to get a mortgage but you’re anxious about the process, you might want to start with online research and self-education.
Online is where most people begin, according to research from the National Association of Realtors, or NAR. Researching online can help you get comfortable with the process and find professionals to contact.
Eventually, you’ll have to reach out to a live person to move forward. “You can’t figure out everything using an app.
“Until you talk to someone who’s very knowledgeable, you might forget to ask about private mortgage (insurance), homeowner association dues — there are so many little idiosyncrasies. It’s the mortgage professional’s job to walk you through that,
Realtor, lender teamwork
Typically, you’ll need to choose a lender before you can start seriously shopping for a home, though it’s fine to contact a Realtor first to get a referral to a lender,
“Unless you’re a cash buyer, you’re going to need to get a mortgage,” A good Realtor is going to want you to get preapproved before they put you in their car and take you out driving and showing you houses.”
Realtors want to help buyers get started with the mortgage process,
“We make sure we’re involved in the mortgage process as well, so if buyers are putting in an offer on a property, (we know) they’re ready to go from the finance standpoint as well,