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Why You Shouldn’t Get Your Mortgage Online

There’s almost nothing you can’t do online these days, including taking out a mortgage on one of the homes in Acworth GA. Yet as the old adage goes, just because you can, doesn’t mean you should. When it comes to choosing a mortgage — often a six-figure loan — working with a mortgage lender in person is often a better choice for a variety of reasons. You may want to start doing some mortgage research online, but when it comes to getting your mortgage, working face to face is the better option.

Just about the only people who could probably get a mortgage online without any concern are those who have a perfect credit score, are putting down at least 20%, and have a straight-forward solid income. That’s not most people, so it’s better to meet with a variety of lenders who can take a look at your specific situation and see what will work best for your plans and needs.

While you can try multiple lenders online — and you should — to get an idea of your best rate, you should also meet with a variety of lenders in person. Meeting with lenders in person may not be as fast as searching online, but you’re likely to get a better idea of the rates, programs, and downpayments options available and appropriate for you. Online sites aren’t going to be as helpful in most cases.

If you’re a first-time buyer, working with lenders in person is a much better option, because they can explain the various types of loans, points, costs, and more. These are the kinds of issues and costs that can create surprises if you’ve only dealt with online sites. In fact, you may start out with a pre-approval online, but when it comes time to closing, online sites may change their mind. With an experienced lender guiding you through the process, you are less likely to run up against major problems when it comes time to purchase.

When it comes to finding a mortgage when you’re self-employed — as a growing percentage of the workforce is today — you really need to work with a lender in person. Rather than simple W-2 forms and such, the paperwork is often more complicated and extensive as lenders may view you as a higher risk. An in-person lender will let you know what kind of documentation is expected, which can have a major impact on whether you qualify right now. By meeting with various lenders in advance, you gain a clearer picture of what options are open to you in your current situation.

While it doesn’t hurt to plug in numbers online to get an idea of your lending options, if you’re serious about purchasing one of the homes in Acworth GA, you should make appointments to sit down with various lenders and discuss your options. Depending on the amount of time you plan to spend in the home, the amount you have for a downpayment, your income, your credit rate, and numerous other factors, being face to face with a lender helps you discuss the variety of options to help you find the right mortgage terms to help you get the most home for your money.

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