Do these things and save thousands of dollars!
Do not mortgage shop by asking only about rates.
No doubt that you can save money on your mortgage by getting a low rate. Save thousands more by getting the right program and the low rate. If the loan representative to whom you speak only quotes rates and doesn’t ask questions about you and your financial future, then they are only interested in selling you a loan and they will cost you money!
Lock in your mortgage rate at the right time.
Mortgage rates change day to day and often hour to hour. A 5.75% loan today might be a 6.25% loan tomorrow. You can search for the lowest rate all day long, but if you don’t lock it in at the right time, you will miss an opportunity to save money. Your Georgia mortgage representative should be able to tell you when to lock and what economic forces are affecting Georgia mortgage rates.
Get a closing cost guarantee.
It is simple for a lender to guarantee all the lender closing costs on a mortgage. All lenders are required to provide you with is called a “Good Faith Estimate of Closing Costs.” But this Good Faith Estimate is just that, an estimate. The law does require that these estimates be accurate. You should ask any lender with whom you speak for a guarantee that clearly states, in writing, what costs are guaranteed. If they can’t or won’t provide you with such a written guarantee, find another lender.
Learn the Total Cost of your Georgia Mortgage.
Should you pay upfront closing costs? Should you roll the closing costs into the loan? Should you arrange to pay no closing costs at all? Should you payoff your home sooner? Should you reduce your monthly payments? What are the benefits of each loan option you are considering? These questions can all be answered by having your loan representative show you the total cost of your mortgage after a certain period. A total cost analysis will let you compare your total monthly payment, principal paid, total interest costs, total closing costs, and loan balance remaining simultaneously. Put all these things together and you have a way in which to save thousands of dollars on your next mortgage
Fill out the form below and we will contact you or Email us directly if you have a specific question to ask.
* indicates required field.
Informed Mortgage Service Commitment
We represent your interests. Worried about being taken or paying too much? Our contract with you guarantees that we represent you and only you. Work with Informed Mortgage as your Atlanta, Georgia mortgage broker and you will pay a set fee for our services no matter what loan or what interest rate you choose. Come experience a whole new level of integrity in the Georgia mortgage broker business today!
Informed Mortgage, Inc. is based in the Atlanta, Georgia metro area and serves mortgage customers in Atlanta and all of Georgia. Schedule a video conference with us so that in a few short minutes you can see, instead of just hearing, about the mortgage options available to you!