Davidson Realty, Inc.

Brenda Williamson’s 4 tips for a seamless lending process

August 27, 2019

 | 
Posted by in News

 

For many homebuyers, the lending process is full of potential obstacles that create delays and undue stress. There are, however, steps the buyer can take to mitigate many of these obstacles and make the process much easier. Lender Brenda Williamson provides four tried-and-true tips to help you pave a smooth road to the closing table:

 

1.) Understand the various options for YOUR situation.

It is important to work with a lender that will help plan a mortgage that is best for the buyer. A buyer may ask for the typical 30-year conventional fixed mortgage, but that may not be the best option for them. For a buyer with a lower credit score and down payment less than 20%, the monthly PMI (private mortgage insurance) payment would be muchhigher than necessary.

 

PMI is based on the amount you are putting down, the loan amount and credit scores. For buyers with higher credit scores seeking a conventional loan with less than 20% down, the monthly PMI amount can be very low. The higher the scores, the lower the PMI amount.

Read more

Comments currently closed.

Davidson Realty