How to Get a Mortgage Painlessly
How to get a mortgage tends to be very exasperating and complicated because people often are not educated on which mortgage is best for them or who is the best lender to go to.
Listen to our host Macarena Rose as she brings you a great informative talk with Elysia Stobbe speaking about her most recent book, “How to get approved for the best Mortgage without Sticking a Fork in Your Eye.” This book will give you an insight about what are the best mortgage questions to ask and which lender to use.
As time changes so do many things in the mortgage process such as paperwork and closing costs which may become tedious if you are not prepared for it. Most often, people are hesitant to providing their most private documentation; which of course would arise if they are using the wrong lender.
Unexpected costs also become an issue for people when they are not familiar with the mortgage process, usually inspection costs are paid upon application. These costs are incurred, whether the mortgage is approved or not; as a matter of fact 50% of mortgages do not close.
Another important aspect of mortgaging is refinancing. One of the most asked questions in refinancing is: “how long does a person has to be in the house to refinance?” With this, it is important to know that refinancing varies by location, current interest rate and loan amount. We cannot change paperwork and legislations that are set in place for this tiresome process; however, what we can do is educate people about the paperwork requirements and explain to them why it is needed.
Also having them become aware of what to expect regarding costs or even as early as the application process will contribute to a faster and smoother mortgage process. Therefore; be smart and educate yourself! To listen to more of Elysia Stobbe, listen to the entire radio show!