In the rush of excitement and preparation to buy a home, buyers often believe whatever they hear from friends and family. Premium Mortgage Corporation is here to set the record straight. As a premier mortgage lender with offices in Buffalo, Rochester, and Syracuse, NY, and Barre, VT, this team of home loan providers utilizes unparalleled industry knowledge to help you find lasting mortgage solutions.
They outline three of the worst pieces of advice homebuyers are prone to receive:
3 Worst Pieces Of Advice Given To Homebuyers
1. "You Don't Need To Be Preapproved."
While it's true that you don't need to be preapproved for a home loan in order to start your house hunt, a preapproval is one way to streamline the process and make things much easier. Preapproval lets you know how much you can comfortably afford, and you can look at homes that fit within that price range. Also, a preapproval looks attractive to a seller and demonstrates that you have the funding — and the serious interest — to make a solid offer.
2. "Choose The Lowest Interest Rate."
When weighing your home loan options, the rates with the lowest interest are understandably going to be the most appealing. But low interest does not always equate to better overall savings. There could be some major disadvantages, like higher finance charges or even an adjustable-rate mortgage. Your loan officer at Premium Mortgage Corporation will help you find the lending options most appropriate for your situation.
3. "Ignore The Fine Print."
Regardless of the type of contract you're signing, this is always bad advice. The fine print typically includes crucial clauses and information that might impel you to reconsider the whole deal. Though mortgage contracts are lengthy and involved, take the time to read them carefully. Your mortgage broker at Premium Mortgage Corporation will work with you to ensure you understand the details of your mortgage and what it entails.
Call Premium Mortgage Corporation at 1-877-690-7240 to schedule an appointment with a loan officer. You can also visit them online or on Facebook to learn more about their services. When buying a home, carefully consider the advice you're bring given and weigh it against what you know to be true and the research you've done on your own; you'll be glad you did.
Corporate Contact information:
2541 Monroe Avenue, Rochester, NY 14618
NMLS# 3254 | Equal Housing Lender
Licensed Mortgage Banker NYSDFS