Article provided by: Seattle's Mortgage Broker – Joe Tafolla
First Time Home Buyer in Seattle? Why Call Seattle Mortgage Company:
If you’re a first time home buyer, this is an exciting time in your life. You’ve made a terrific decision to invest in a home, and by working with a reputable real estate agent, you have the opportunity to make a purchase that can increase in value over time. Now comes the stressful part- trying to find a lender who will take you seriously. Before you turn to your bank for the financing you need to purchase a home, consider the numerous benefits you’ll experience by working with a mortgage broker.
Your Bank vs A Broker:
At the end of the day, your bank is simply just another business looking to improve their bottom line. Sure, they greet you with a smile and offer several free or low-cost conveniences you’ve probably been taking advantage of for many years. They make the bulk of their money from clients who take out credit cards and apply for mortgage loans. A Seattle mortgage company, on the other hand, will work harder for you to find a mortgage loan that better meets with your specifications. Their network of lenders ensures you have more options available to you- so you can find lower interest rates and better terms.
The Advantages of Being a First Time Home Buyer in Seattle:
Being a first time home buyer puts you in a unique position. Your bank may not disclose to you the fact that you have an advantage over other borrowers, but you can bet a mortgage broker will. At SMB, we’re happy to help our clients looking at their first home purchase get the best rates available to them through working with a network of providers who will compete for your business. If you’re a young family just starting out, our lenders offer Down Payment Assistance in the form of OFC FHA 100% loans with a minimum credit score of 640. If you have 1% to put down on your home, we work with lenders who will gift you 2% down, so you’ll close with 3% equity. A 700 FICO score is needed to apply.
Are You a No Credit First Time Home Buyer in Seattle?
If so, you’ve probably gotten the advice to wait to buy your home until you can improve your score. Most banks recommend coming back in 6 months to reapply, provided your score has improved in that time. At SMB, our lenders offer FHA Prime Loans for clients with no credit history– and they’ll loan up to 96.5%; of the home’s value. Your credit worthiness will be established by other means, such as your utility bills.
Get the funding you deserve right now by calling one of our agents at SMB. Why should you have to wait to become a first time home buyer in Seattle? At Seattle Mortgage Brokers, we’ll make funding available to you right now, so you can enjoy the benefits of homeownership sooner rather than later.
Call us a Seattle mortgage company now for your free consultation and pre-approval.