Mortgage is one of those words that evokes positive and negative feelings simultaneously.
We hate having to have a mortgage but we love the idea that someone is willing to loan us money to purchase a home.
There has been a lot of bad publicity this year and last about
mortgages and mortgage companies who helped people move into homes they couldn't afford, only to have their home and their
lifestyle put in jeopardy a few years later.Things
have been changing so rapidly in the mortgage market in 2009 - rates fell, climbed, fell again. Right now they are at
near-historic lows. Requirements, however are getting tighter as lenders swing the pendulum in the opposite direction
of the "easy money" that was available a few years ago.
I'm often asked - when is the right time to speak with a lender.
The answer is always, as soon as you can. By working with a lender BEFORE you even look at homes, you have a clear idea
of what price range in which to look.