When you meet with a lender to apply for financing, you may feel as if you are in a foreign country when the loan officer begins to talk about points, Regulation Z margins, PMI, and ARMs.
You are not alone if you feel left behind by loan terminology. Like many professionals, lenders use a highly specialized language. Don't hesitate to ask for a translation! This is especially true if you are investigating some of the more complicated loans with rates that can be adjusted periodically. As you consider the various loan options, find out what the interest rate will be and at what point the lender will commit to that rate. If the loan has an adjustable rate, be sure that you understand how often the rate will adjust, and by how much your payments may go up. Find out if the loan can be assumed by a future buyer. The lender isn't trying to confuse you. The mortgage process is complicated, so just keep asking questions until you understand.
The Chase Team WEICHERT REALTORS - The Chase Team 146 Front Street Scituate, MA 02066 781-545-7900 Fax: 781-545-7901 Cell: 617-803-2660 email@example.com
Where others might take the easy road, Donna, as one of America's NUMBER1EXPERTS™ in the Norwell and Scituate areas, travels the route that delivers the BEST results and service to her clients.
Donna skillfully negotiates through any transaction with years of sales and negotiations training, to deftly turn obstacles into advantages for her clients. She arrives at her goal using inspired strategies and creative marketing, unlike any other agent you may have met!
Donna's properties are selling quickly. Call her today for a half-hour presentation to show you a different approach to marketing your property.