Ok, we are looking into a new apartment for FH to move into, but the money we would spend on rent, we would rather spend on a mortgage and own something.
I feel like I have a mental block with buying a house. It gives me a headache.
I am tyring to look for mortgage rates for Long Island, and can find the average, but going from bank to bank to find rates is driving me nuts.
What do you think of ING mortgages?
Any tips on what to do first?
thanks
meg0417
Posted:
Member since
Re: NWR: mortgages
I do mortgages for a living and specialize in first time buyers - What I recommend is you find a bank that you are comfortable using with a reputable lender, ask parents, aunts, friends etc -esp those you recently bought their first homes. You def should find out about some first time buyer programs that may be available in your area. SONMYA(SUNNYMAY) is wonderful program for 1st time buyers -depends on yuor income and where your buying. With amortgage thebottom line in payment - dont make yourself crazy with rate shopping - they are all competitive. Anyone that gives you an amazing rate is porbably charging lots of points - fees - or the rate will change at the end.... unless ofcoarse its one of these 1st time buyer programs - like SONYMA (State of NY Mortgage Agency). SOme of these great 1st time programs will either pay your closing costs up to 5% of the loan amount OR give you a loan to pay them. They all have lower rates than a reg conventional mortgage, just remember the bottom line is What is the payment - There is so much info I could go on and on - FM with any questions - GOOD LUCK
meg0417
Posted:
Member since
Re: NWR: mortgages
One more thing -first thing you have to do is get pre-qualified with a reputable experienced lender, not some fly by night broker. If your working with a realtor usually they can recommend a lender they like to work with - also - Everything will come down to your credit
I will FM you for more info as I come across questions. Thanks again!!! This helps a lot!
lisalisa27
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Re: NWR: mortgages
I feel the same way also we are moving in OCt. and what we are going to be paying for rent should very well be a mortgage but we need to clean up some things and credit also, so we decided to buy after the wedding. I have no time in my busy life right now to shop for mortgages.
dancint131
Posted:
Member since
Re: NWR: mortgages
MY FH is a mortgage broker. He is extremely helpful for anyone that has any questions. Feel free to email him with any questions or call...
