Learn about the ins and out of financing a home purchase and getting pre-approved for a mortgage.

Happy Friday!

 If you follow my page on Instagram or Facebook (if you don't, you are missing out! Check out @MegSeibertRealtor), you will know that every Friday I do a #FactFriday. Just a real quick post to start your weekend off with some cool information. It may real estate-related, it may be something random! I decided to bring this over to LancasterHomesFinder. So without further ado.. 

#FactFriday!

Today's Fact : 30-year mortgage rates have hit the lowest point in their history (almost 50 years)!

So, what?

This is great for homebuyers because:

1. Lower interest means that you’ll pay less over the life of the loan

2. Your purchasing power increases and you may be able to afford a home that you wouldn’t have qualified for with a higher…

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The top 10 things you need to know when buying a home.

1. Don't buy if you can't stay put.

If you can't commit to remaining in one place for at least three to five years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner - even in a rising market. When prices are falling, it's an even worse proposition.

2. Start by shoring up your credit.

Since you most likely will need to get a mortgage to buy a house, you must make sure your credit history is as clean as possible. A few months before you start house hunting, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover.  A good lender will…

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The home buying process has so many different aspects that it’s hard to think about everything thoroughly without a qualified real estate agent to represent your best interests.  One aspect that is often over looked has to do with perhaps the most important part of buying a home; financing.  Many home buyers are not aware that there are two types of lenders.  In today’s market there are mortgage brokers and there are lenders.  So which is better and who should you work with for your upcoming home purchase?  Let’s start with the major difference between brokers and lenders.

A mortgage broker is someone who works with a variety of lenders to find a loan that fits your needs.

A lender works for a financial institution that offers mortgage loans…

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