Answers For First Time Home Buyers
1. What are the main things to look for when shopping for a mortgage? Closing costs and total payment, also request a good faith estimate of closing costs from at least 3 lenders.
2. What programs are available for first time home owners? Depending on what state you’re in, there are some programs available through the state. Another good program is the ‘Home Possible Program’ through Freddie Mac. Rural housing loans are also a good program, again depending on where you live.
3. What are some problems that arise during the buying process? Large deposits showing up on your bank statement. Any large deposits need to be explained. Also, undisclosed debt.
4. A tip for a first time home buyer. I would do a first time home buyer class.
DEPENDABLE MORTGAGE CO.
Rhonda Sherman, Owner
License # 100008357 NMLS # 381084
145 Grand Ave., Suite B
Grand Junction, CO 81501
(970) 257-1502 or 250-8613
Website: Dependable Mortgage Co. (apply online 24/7)
Equal Housing Lender
Regulated by Real Estate Division