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Buying A Home In Salt Lake ? Check Your Mortgage Person!

Buying a Home in Salt Lake ? Better check on your Mortgage person. Things have changed in the mortgage world.

In spite of the constant information we hear about interest rates being at an all time low, and the Feds pumping Billions of dollars into the housing market, Make sure you qualify for the best home loan.

That was the tenor of an article in the Milwaukee Journal Sentinal last Saturday by Joe Taschler. "Tighter Lending Rules Trip Up Home Buyers".

I can't link it, and it's too long to rewrite so I thought I would just highlight some comments from the article that might be informative if your searching for a home for sale in Salt Lake.

Also, I want to encourage you to work with a trusted professional. A local lender !!

A local Mortgage Lender knows that.....

  • Getting a mortgage today isn't as smooth as it used to be.
  • A couple of years ago 620 qualified for a good interest rate, today it's 740.
  • Any one under 740 may be hit with extra fees.
  • Last week rates dropped below 5% and are likely to stay that way for awhile.
  • A 0.75% fee on $200,000 is $1500 Dollars.
  • Some home buyers can't get a home loan because the house wont appraise for enough. 

These are all reasons to contact a local lender; a mortgage lender that knows the territory and the available state and federally sponsored programs that could save you money and lead you through the maze of qualification and regulations. 

For a list of Lenders we have used and can recommend, stop by our website and click on Salt Lake Home Loans. We have worked with these Mortgage Professionals through the years and know they will provide honest, accurate and competitive products & information.

If your just starting your search, and would like to have a tool to help you find the homes for sale in Salt Lake that you might like to see in person. Go to Salt Lake Real Estate and select either the MLS search to see all the homes listed in Utah, or click on Short Sales to access all of the Salt Lake pre-foreclosures, or you can hit the Bank Owned button to view Foreclosed homes in Salt Lake.

You'll get Photos, Maps, Prices, directions and most of the information Realtors get when they search homes for you.

Hope you enjoy your search.

Or you can call us @ 801-567-0946.

We'd love to talk Real Estate and buying a home in Salt Lake, as well as helping you check your mortgage person. 

 

Published Monday, April 06, 2009 7:51 AM by Gordon Sloan
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