« Return to Blogs

Getting a Mortgage 101: Real Forehead-Slappers

DOHHomer Simpson smacks himself in the forehead every time he says it: D’Oh!!!

When it comes to knowing how mortgage basics have shifted in today’s changing banking environment, few of Palm Beach County’s homebuyers have kept current enough to avoid meriting that kind of forehead slap. It’s no wonder. The average family delves into the real estate market no more than once every five to seven years, so they don’t worry about getting a mortgage day in and day out. It’s my job as agent to bring clients up to speed throughout the buying process, which often begins and ends with getting a mortgage in Jupiter.

Among the most common current misconceptions:

If you are among those believing that all lenders are legally required to charge the same fees for credit reports and appraisals…D’Oh! In order to create more competitive lending quotes, some banks waive all charges for these services. And other lenders may charge higher fees for the same services – all of which is why it’s so important to speak with multiple lenders.

When a couple is getting a mortgage jointly,do you (like so many) believe the primary borrower with the highest score will be considered the main applicant? D’Ohlenders usually take the middle score of each spouses’ three scores, and use the lower of the two in determining the offered interest rate. The lesser creditworthy spouse has the greatest effect on the Monthly Payment.

The real estate slump from a few years back has many believing that getting a mortgage in Jupiter (or anywhere else) will require at least a 20% down payment. Sound like you? If so (you guessed it): D’Oh! With as little as 3.5% down, buyers can often qualify for a mortgage through the FHA, available to everyone meeting the minimum lending requirements. Other loan programs are offered through other agencies like the Department of Veterans Affairs (VA) and the Department of Agriculture (USDA).

Thinking getting a mortgage in Jupiter anytime soon? Getting approved is Step One in the buying process — if you’re ready to get going, make the next call to me today!

 

 

Questions, Comments or For more information you can email Christian Penner at Christian@ChristianPenner.com or visit us online at www.ChristianPenner.com or you can call us directly at: 561-316-6800

ChristianPenner.com
Getting a Mortgage 101: Real Forehead-Slappers
http://www.christianpenner.com/getting-a-mortgage-101-real-forehead-slappers/


If you find this helpful please let us know, just leave us a comment review.

Just click Give A Review. A simple Thank You message means a lot to us.

Google+ Review Button

Don’t have a Google account? How about one of these options?

yellow pageyahoo localcity searchinsider pagesyelp

Submit Video Reviews For Us! Click here!

Or You can call Christian Penner directly to


blackwhite#Christian Penner, #Mortgage Broker West Palm Beach talks about #Real Estate West Palm Beach. He also serves other Local Areas and provides home #Mortgage Solutions for Palm Beach Gardens, #Jupiter, #Boca Raton, #Wellington and #Tequesta. #Christian Penner Mortgage Broker Jupiter has the #lowest mortgage rates and the best #home mortgage programs like; #Jumbo loans, #FHA Home Loans, #VA Home Loans, #Reverse Mortgage Home Loans, #Freddie Mac Home Loans, #Fannie Mae Home Loans and #HARP Mortgage Loans. #Christian Penner Mortgage Broker Palm Beach Gardens has Served the area for over 15 years with his #Home Loan Lending Needs and Works with #FEMBI Mortgage in Jupiter. You Can Also Find Him On fb mortgageFacebook at: http://Facebook.com/YourMortgageBanker

- - -

- - -

ChristianPenner.com

Getting a Mortgage 101: Real Forehead-Slappers

http://www.christianpenner.com/getting-a-mortgage-101-real-forehead-slappers/