Terry’s Blog: Home Mortgage Tips For Buyers in Harrisburg SD That Can Make Your Life Easier

Home Mortgage Tips For Buyers in Harrisburg SD That Can Make Your Life Easier

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Watch out for banks offering a “no cost” mortgage loan. There is really no such thing as “no cost”. The closing costs with “no cost” mortgages is rolled into the mortgage loan instead of being due upfront. This means that you will be paying interest on the closing costs.

Having the correct documentation is important before applying for a home mortgage. Before speaking to a lender, you’ll want to have bank statements, income tax returns and W-2s, and at least your last two paycheck stubs. If you can, prepare these documents in electronic format for easy and quick transmission to the lender.fbcoverTerryBornitz

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