3 Ways to Make Mortgages Simple
While mortgages may seem intimidating, they are extremely important to understand since the purchase of your home relies on it. A mortgage is where you make an agreement with a bank to borrow money for the purchase of a home and then pay it off within a set period of time. There are several different types of mortgages with varying lengths of time and interest rates, but these are all dependent on your ability to pay back your loan - which comes down to your credit score and payment history.
The Mike MacGuire team would like to help keep this process as simple as possible for you, so that you don't feel overwhelmed, and you can make the necessary decisions on the perfect Colorado Springs home for you and your family. Here are a few things to remember to keep the mortgage process simple.
Get Your Financial Affairs In Order
One of the most important things you can do to make the mortgage process simple is to get your financial ducks in a row. If you plan to buy a house in the next 6 months, don't do anything that could negatively impact your ability to secure the mortgage. A few things that can cause issues with your mortgage are:
Find The Right Lender
We cannot state enough how important it is to find a good lender. In fact, the wrong lender can make or break your ability to secure a home you love. There are many lenders to choose from, so you can make it easy on yourself by asking around and getting advice. If you know anyone in the area who has worked with an agent, you can ask their opinion. Ask about how easy it was to get a hold of them, how quickly they worked to get your mortgage finished and filed, and even ask about how it's been working with them since the close of their home. These are all details that can make a difference in the lender you choose. If you don't know anyone to ask, and you're at a loss as to which lender you should work with, you can always ask your Colorado Springs real estate agent.
We have worked with many mortgage lenders in the past, and we know who the top notch team members are. We can tell you who is easy to work with, and can make some great recommendations based on our 25 years of experiences in the real estate field. Here are three Colorado Springs mortgage lenders we would recommend you work with:
Shannon Scott
Peoples Bank
Office: (719) 548-5182
Cell: (719) 231-6114
Fax: (719) 548-5139
smscott@epeoples.com
The Mike MacGuire team would like to help keep this process as simple as possible for you, so that you don't feel overwhelmed, and you can make the necessary decisions on the perfect Colorado Springs home for you and your family. Here are a few things to remember to keep the mortgage process simple.
Get Your Financial Affairs In Order
One of the most important things you can do to make the mortgage process simple is to get your financial ducks in a row. If you plan to buy a house in the next 6 months, don't do anything that could negatively impact your ability to secure the mortgage. A few things that can cause issues with your mortgage are:
- Signing up for new lines of credit
- Paying off current loans
- Making large purchases on your credit card
- Career Changes
While it's always hard to know what will negatively impact your credit, because there are no set guidelines, it's just best to be aware of your decisions leading up to securing your loan. By thinking ahead, you can prevent some issues in the future when it comes time to get your loan.
Find The Right Lender
We cannot state enough how important it is to find a good lender. In fact, the wrong lender can make or break your ability to secure a home you love. There are many lenders to choose from, so you can make it easy on yourself by asking around and getting advice. If you know anyone in the area who has worked with an agent, you can ask their opinion. Ask about how easy it was to get a hold of them, how quickly they worked to get your mortgage finished and filed, and even ask about how it's been working with them since the close of their home. These are all details that can make a difference in the lender you choose. If you don't know anyone to ask, and you're at a loss as to which lender you should work with, you can always ask your Colorado Springs real estate agent.
We have worked with many mortgage lenders in the past, and we know who the top notch team members are. We can tell you who is easy to work with, and can make some great recommendations based on our 25 years of experiences in the real estate field. Here are three Colorado Springs mortgage lenders we would recommend you work with:
Shannon Scott
Peoples Bank
Office: (719) 548-5182
Cell: (719) 231-6114
Fax: (719) 548-5139
smscott@epeoples.com
Tom Bechtel
ENT Credit Union
Direct: (719) 550-6486
800-525-9623 ext. 6486
Fax: (719) 550-7488
TBechtel@ent.com
800-525-9623 ext. 6486
Fax: (719) 550-7488
TBechtel@ent.com
Suzannah Mattson
Caliber Home Loans
Office: (719)466-8702
Cell: (719)237-5483
Fax: (855)722-8102
Suzannah.Mattson@CaliberHomeLoans.com
Keep Organized
One of the last ways to keep your mortgage simple is by staying extremely organized. There are many different pieces of paperwork that your mortgage lender will need in order to secure your loan - and by the time it's said and done, you will have quite a stack. You can do yourself a favor by keeping all of the paperwork organized and together. Here are a few things that your mortgage lender will probably ask for:
If you'll be applying for your mortgage within the next few months, you can do yourself a favor by organizing everything in a filing cabinet or accordian folder. This way, when you need different items, you can easily pull them out to fax, scan, or submit.
Buying A Colorado Springs Home
Applying for a mortgage may sound complicated, but in many cases, if you are organized, you can apply and get approved within a days time. That can vary for every single person, but if you can everything organized from the start, you can make the process simple. After you get pre-qualified for your loan, it's time to start the fun part! Our real estate team looks forward to helping you find the home of your dreams and getting you settled in your new community. Visit our website to learn more about purchasing a home, or how to get started today!
Mike@BuyWithMike.com
Cell: (719)237-5483
Fax: (855)722-8102
Suzannah.Mattson@CaliberHomeLoans.com
Keep Organized
One of the last ways to keep your mortgage simple is by staying extremely organized. There are many different pieces of paperwork that your mortgage lender will need in order to secure your loan - and by the time it's said and done, you will have quite a stack. You can do yourself a favor by keeping all of the paperwork organized and together. Here are a few things that your mortgage lender will probably ask for:
- W-2's from the last two years
- Pay stubs from the last few months
- Bank statements from ALL of your accounts (ex: savings, checking, etc..)
- Federal tax returns
- A list of your debts (credit cards, student loans, car loans, and child support payments)
If you'll be applying for your mortgage within the next few months, you can do yourself a favor by organizing everything in a filing cabinet or accordian folder. This way, when you need different items, you can easily pull them out to fax, scan, or submit.
Buying A Colorado Springs Home
Applying for a mortgage may sound complicated, but in many cases, if you are organized, you can apply and get approved within a days time. That can vary for every single person, but if you can everything organized from the start, you can make the process simple. After you get pre-qualified for your loan, it's time to start the fun part! Our real estate team looks forward to helping you find the home of your dreams and getting you settled in your new community. Visit our website to learn more about purchasing a home, or how to get started today!
Mike MacGuire
Colorado Springs Real Estate Agent
The MacGuire Team
6760 Corporate Dr
Ste 300
Colorado Springs, CO 80919
719-536-4324 or 719-660-6793
Mike@BuyWithMike.com
Comments