Hi Betty ~ Are you looking to purchase property in Pottsboro? The first thing you would want to do is to visit with a lender, who could pull your credit score and tell you what amount you would be eligible to borrow. If you would like for me to refer you to a couple of good lenders, give me a call at 903-815-0299... more
It seems that in the residential subdivisions, home values are continuing to decline - or remain flat; however, lake/vacation home prices seem to be rising...primarily due to the fact that second-home-buyers are taking advantage of record-low rates - and with increased sales, come increased prices - the law of supply and demand... more
Congratulations on taking the time to ask the right .. and important .. questions regarding financing and the choice of a lender. Doing research is critical and you've taken the right first step!
Choosing a lender is much like choosing any other purchase or service. Reputation is key. Check with friends, relatives, co-workers that have recently closed a loan or have maintained a good relationship with their lender. Also, ask other real estate professionals who they would recommend. Attorneys, insurance agents, realtors, home stagers, builders, etc., are all great people to talk to for this information.
When you have compiled a list of referrals, call and talk to those that you find are repeatedly showing up on your list. While rates and closing points are very important, consider the lender's reputation and closing success rate also. How many of their loans are they actually seeing to successful completion? Remember, if a lender cannot deliver the services you need or deliver your loan to the actual closing table ... a great rate won't count for much.
Especially in this day and age during a challenging market, you need someone with knowledge, professionalism, and a continuing service philosophy after your closing as well. Look for a lender that wishes to build a relationship with you that will continue beyond your initial closing.
I believe that your "gut instinct" will tell you who you are most comfortable with and who you can trust. There is the lender you are searching for.
If you have any additional questions or needs in the future, please do not hesitate to write. Best of luck to you in your upcoming transaction ...... more