How to Choose a Mortgage Lender
Unless you have a pile of cash, the money part of buying your first home is arguably the most stressful, most nauseating, most OMG WHAT HAVE WE DONE part of the whole deal. And it doesn’t help that the process is shrouded in mystery.
I got you, boo. Here’s how it goes down:
You choose a lender—someone who’ll bring the money to the table.
They collect a ton of financial information from you and, based on that info, they tell you how much house you can shop for.
When you’ve made a successful offer on a home, your lender will collect more information and have you sign eleventy billion documents.
You start moving in.
That’s oversimplified, of course, and I’ll help you through that part when the time comes. But for now, here’s the lesson: I cannot overemphasize how important it is to use a great lender.
But as a newbie, it can be really tough to wade through the hundreds of options you’ll find on the internet. Especially since a good chunk of those “options” are shady characters who don’t give one single damn about you.
My best advice? Use someone local. Especially in Denver’s competitive market, you’ll want someone you can trust to come actually through with the money. I have a list of trusted referrals to share with you when you’re ready!
Aside from local lenders, consider The Neighborhood Assistance Corporation of America (NACA). NACA is a nonprofit community advocacy and homeownership organization, and its mortgage terms are remarkable: no downpayment, no closing costs, no fees, below-market fixed rate.
If your median income is less than Denver’s average (or if you have a higher income but are looking to purchase in a low-to-moderate income neighborhood), a NACA mortgage could be a game-changer for you.
In the meantime, hit us ME with alllllll the questions. I’m here for you!
