Buying A Home In Alexandria VA -
Here Are My Top Lenders To Help With Mortgage Approval
Before you get geared up to look at homes for sale in Alexandria VA, invest the time in meeting with a local mortgage lender to help you with your mortgage approval. Getting approved for your mortgage will help you in a variety of ways:
- First, your mortgage approval will tell you exactly how much money you can spend. And whether you know it or not, it’s all tied to your credit report. Interest rates are credit score driven, so the higher your credit score, the lower your interest rate on your mortgage.
- Your mortgage approval will let you know what type of financing you’ll be using, and that means knowing how much you’ll need for a down payment. The 100% financing and ‘no money down’ mortgage programs are still available, and again, they’re credit score driven. So if you’re aiming to buy a home for sale in Alexandria VA with no down payment, then a lender can tell you if you qualify.
- Your mortgage approval will let you know how much you’ll need in closing costs. For example, if a lender offers a no money down program, but charges a loan origination fee, then that means you’ll have to pay interest up front on your mortgage, and that will be considered part of your closing costs. You may be able to take advantage of obtaining a loan with no down payment, but doesn’t mean you won’t have any closing costs.
- You’ll get a free credit report. Getting your mortgage approval is free, and it requires a lender to pull your credit report. If you’re not quite in a position to buy a home, your lender can help you by putting together a game plan to increase your credit score so that you can take advantages of lower interest rates.
Choosing your mortgage lender is an important step in the homebuying process. Here are my top local lenders (in no particular order):
- Tim Curtin, Americorp Mortgage Services
- Patrick Cunningham, First Savings & Trust Mortgage
- Brian Bonnet, George Mason Mortgage
- Cindy Small, Union Mortgage Group
- Kelly Wadsworth, Wells Fargo Home Mortgage
- Carey Meushaw, George Mason Mortgage
All of these lenders offer a variety of programs to fit your financial needs. From grants, to first-time buyer programs, to no mortgage insurance programs, to VA loans, FHA, and conventional, these lenders take the time to ask the important questions to help you finance your new home purchase.