The Complete Guide To Buying A Home: Chapter 08 – Shopping for a Home Loan

Shopping for a home loan on your own can be a daunting experience, and it might be a difficult task to accomplish by yourself. To overcome that hurdle, it’s recommended that you hire a mortgage professional for many of the same reasons you should engage a real estate professional. If possible, you should engage the professional before you even start searching for the house.

This is what we’ll be discussing in Chapter 8 of The Complete Guide To Buying A Home that you can read online at

Shopping for a Home Loan

When buying a house, your lender will calculate the total amount of real estate taxes, as well as the number of days in a property tax year that you were the owner of the said property and escrow that amount, adding it to the mortgage payment.

People have been known to spend months looking for the best possible home and eventually find a good one. However, many of these individuals fail to understand the importance of finding a good loan. In the end, the new homeowner has a nice home, but a bad deal when it comes to the mortgage.

Not many people have the capability to buy a house for cash; most people will require a mortgage. Therefore, you not only need to go shopping for a house — you also should go shopping for the best loan deal. There are different types of loans out there, and it’s best to check several and then compare them. That way, you’ll have better chances of securing a mortgage that won’t be a burden in the future. It also means you’ll have an opportunity to save some money at the end of each month.

Getting a loan to purchase a home can be a tricky business, and there are terms one might find hard to understand — e.g., the term “mortgage points,” which refers to the interest that’s been prepaid. It’s possible to lower your mortgage loan’s interest rate by “buying points.” Mortgage points, or discount points, are fees paid directly to the lender at closing in exchange for a reduced interest rate. This is also called “buying down the rate,” and will decrease your monthly mortgage payments

Watch the video and then read the corresponding chapter of the Complete Guide To Buying A Home. Then ask David your questions, so he can record more videos answer them and provide more clarification as needed.

If you are looking for a home in the area, call me at (727) 249-4022 so we can talk about what you’re looking for. We’ll work together intensively on the following:

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