Sage Realty Offers Mortgage Advice When Looking for Homes for Sale in Wayne, PA
Sage Realty gives some great advice to potential home buyers regarding shopping for a mortgage for homes for sale in Wayne, PA.
Wayne, PA – June 23, 2017 – Sage Realty, a team of Realtors dedicated to helping home buyers find their dream homes, offers advice on how to shop for a mortgage. Mortgages come in a variety of types, terms, and options, and to get the right deal, buyers need to make well informed choices.
The First Steps
Before buyers even contact a potential lender, they should take preliminary steps. Buyers should request copies of their credit report to ensure no erroneous reporting has taken place. They should also get to know the mortgage options that best meet their needs. The credit report review is best done about six months before loan shopping, as this gives buyers the chance to correct mistakes and take steps to improve their overall credit score.
As mentioned, mortgages come in a wide range of options that differ from one lender to the next. However, buyers should consider factors in these three categories:
- Fixed Rate or Adjustable
- Conventional or Government Backed
- 15 Year or 30 Year Terms
Shopping Around Could Save a Lot of Money
Just as buyers would search for the best homes for sale in Wayne, PA, they should search for the best loan options. Doing so should have no adverse effects on credit scores if all inquiries are conducted within a short amount of time, typically between 14 and 45 days. Buyers should let lenders know they are shopping around, because many lenders are willing to adjust loan terms and rates to remain competitive. During the loan shopping phase, be sure to compare fees and closing costs as well as loan terms. Those fees could make a big difference in the cost of a loan.
To learn more regarding buying homes for sale, please contact the team at Sage Realty directly.
About Sage Realty
Sage Realty is dedicated to helping buyers find their dream homes for sale in Wayne, PA and surrounding communities. The Sage team has experience, both with homes in the area, and with the home buying process. With this experience and commitment, they guide buyers through each step, from the search to signing the final documents for their new homes.
37 West Avenue, Suite 103
For more information, please visit: www.FindAHomeInPA.com