Have you been considering buying or home loans Greenville SC? If yes, before you choose a mortgage company for home loans, you must make sure that you ask the right questions. Here, we will look at four questions you must make sure to ask.
What are my loan options?
This question will let you know whether you are talking to a quality advisor or just a salesperson. Your mortgage lender should explain to you each type of loan in detail, and what are the pros and cons of each.
How much down payment is required?
In most cases, a 20 percent down payment is required for the majority of lenders. However, with a good credit score, qualified buyers can even find mortgages with even less than a 5 percent down payment. The best lenders will explain your choices in detail.
What is my interest and the annual percentage going to be?
When lenders advertise interest rates, there are two rates that you are going to see. The first one is the base interest rate that you are getting charged for the mortgage company Greenville SC. Next is the annual percentage rate or the APR. The APR is going to be higher since it factors in the base interest rate plus any closing costs that are associated with your loan. One point that you should remember is that if there is a big difference between your base interest and your APR, that means you are being charged very high by your lender as fees.
What is your loan processing time?
Next, you will need to ask your lender about how much time will take to process the loan. This question is important because in a purchase situation, the seller from which you are buying your property is going to look for someone who can close the deal as fast as possible so that they can move on with the next stage of their life.
If you are thinking of mortgage loan options Greenville SC, and you are looking for the best mortgage services from the best mortgage company, you can contact Movement Mortgage, one of the most reputed mortgage companies in the area.
