How Do I Shop For A New York Mortgage?
Shopping for a mortgage can be an intimidating process, but Maple Tree Funding makes it easy for you to understand the options and rates available!
How to Shop for a Mortgage
Many people know that the home buying process starts with shopping mortgage options – but they have no idea where to begin when it comes to shopping for a home loan.
Get Your Finances in Order
For most people the most logical place to start the mortgage shopping process is by getting their finances in order. You’ll want to make sure your credit score is in good shape, and if it isn’t, you’ll likely want to take steps to improve it before pursuing a home loan.
Determine How Much You Can Spend on a Home
Getting your finances in order and taking stock of your assets will also help you to determine how much you can afford to spend on a home – another important step to take early on in the mortgage shopping process. Taking a closer look at your finances will also give you a head start when it comes to working with potential lenders, as you’ll likely have most of your financial documents assembled. This will put you in a position to easily apply for mortgages. (Check out our helpful list of financial documents you’ll need to apply for a mortgage here.)
Connect with Mortgage Lenders
Once you have an idea of how much you can reasonably spend on a home, you can start seeking out mortgage lenders to explore the options available to you when it comes to financing your home purchase. It’s helpful to do some research online to learn about possible lenders, and to ask around for recommendations – though keep in mind that a lender that was a good fit for a friend may not be a good fit for you. Much depends on your financial situation, where you’re hoping to purchase a home, the type of mortgage you are interested in and qualify for, etc.
Simplifying the Mortgage Shopping Process with Maple Tree Funding
Have you ever used Expedia or Priceline to find the best deals on hotels or airfare? If so, you are probably someone who is interested in finding the best prices as efficiently as possible. Why waste time going to each individual hotel’s or airline’s website when you can use one website to find and compare all of the deals in one place?
Here at Maple Tree Funding, we agree! That’s why we offer a similar service to our customers, in order to make the mortgage shopping process as efficient and straightforward as possible.
Understanding The Mortgage Options Available to You
As a local mortgage broker, our team works with numerous banks and receives numerous rate sheets for specific programs that tailor to the needs of our clients. We don’t ask our clients to run from bank to bank having their credit report pulled several different times in order to get the best interest rate. Instead, we take care of that for you!
With one credit report pull, in a fraction of the time, we help our clients to find the best available mortgage options, presenting the options in a clear, organized fashion. This means you spend less time shopping your options, and more time making progress towards the end result of purchasing a home.
Understanding What Type of Mortgage Is Best For Your Unique Scenario
At Maple Tree, we understand that not everyone knows exactly what type of loan program they qualify for or even what type of program is best given their scenario. A person that qualifies for an FHA Mortgage may also qualify for a VA Loan with more favorable terms. A USDA Loan may be perfect for someone just starting out that does not have a lot to spend for a down-payment.
Maple Tree Funding will not only show you the options available to you and provide you with term, payment, rate, and closing cost options. We will also review the different type of loan programs with you to help you understand which options are most favorable given your situation!
We know that a conventional mortgage may not make sense for every client. That’s why Maple Tree Funding offers a variety of loan programs and helps you to understand which option is right for you.
Shopping for a New York Mortgage is Easy with Maple Tree Funding!
The ease of comparing all of your different options and prices in one place is undeniable, no matter what you’re shopping for. When it comes to mortgage shopping, Maple Tree Funding makes your experience as smooth as possible with our ample products, our various lenders, and our helpful customer service.
Ready to get started with the mortgage shopping process? Give us a call at 518-782-1202 or fill out our quick New York Mortgage Application today and let us help you find the mortgage option that’s right for you!
Editor’s note: This content was originally published in 2013 but has been updated as of June 2021.