MORTGAGE Needs

Since, in most cases, the value of one’s home represents their single largest financial asset, doesn’t it make sense to proceed as smartly as possible and be prepared with relevant knowledge etc.? Most people depend on, securing a MORTGAGES, in order to buy, your part, of the so-called American Dream, and, therefore, the more you know and understand about the process and the needs, after, more than a decade, as a Licensed Real Estate Salesperson, in the state of New York, I have seen too many otherwise qualified, ill-prepared potential buyers when it comes to this area. With that in mind, this article will briefly consider, examine, review and discuss, using the mnemonic approach, what this means and represents.

1. half; reasons; motivating; monks: Do you have the financial means to raise the down payment and other necessary funds at closing? Take a close look and understand your personal motives and what you are looking for and can afford! What motivates you to keep going, to tackle some of your personal dreams and aspirations?

2. Options; Offerings: Mortgages are not one size fits all. They come with different maturity terms and down payment requirements. They also have different formats, from fixed rates, types, to a variety of different variable rates! The better you know and understand the offers available and determine which ones are best for your personal circumstances, etc., the more effectively you will determine what options you are looking for!

3. Reasons/reasoning; facts; spleens; important: What are your reasons for wanting to buy a home, and how does your reasoning best prepare you to make the most personally relevant decisions? Be objective and introspective, so that you realize your true personal realities! Compare rates and terms/conditions, and read the fine print.

4. time tested; prompt: Do some research and understand the tried and true realities of mortgages! In changing markets, rates often fluctuate, so making your decision early can make a significant difference in the rate you receive, and therefore your monthly costs.

5. Growth / growth: Our personal growth means that we sometimes experience growing pains and therefore one must recognize that the relationship, the preparation for the financial aspects and the enjoyment of the experience are related!

6. Attention; attitude: Proceed with a well-considered, positive, can-do attitude, so that you look for the best way to overcome obstacles, in a solution-oriented manner, rather than dwelling on the negatives. The more attention we pay and realize the possibilities, ramifications and contingencies the better the process usually proceeds!

7. Greater than: Why do you think owning a home will make your life experiences seem better?

8. Profits; emphasis: Your bank or other credit institution, review, many things, including your credit history, etc. An essential consideration is the level and safety of your earnings and earnings history! Know your emphasis and be prepared!

The better we understand some of the MORTGAGES needs, less stressful, the process, it usually is! Will you be prepared?