If you need assistance, please call 334-730-0771

Avoiding Financial Stress

Monday, May 28, 2018   /   by Dustin Woodley

Avoiding Financial Stress

By asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. There are certain approaches that you can take while mortgage shopping that can cost or save you money.


It is still true that the better qualifications you have, the lower your interest rate will be. However, there are mortgages available for almost everyone; it's the interest rates or the down payments that vary.


Before speaking with a lender, know what monthly dollar amount you feel comfortable committing to. Then when you discuss mortgage pre-approval with your lender, it is easier for you to determine the monthly amount and what value of home the monthly amount translates into. Do not put yourself in the position where you will be paying more each month than you intended simply because the dream home requires it.


Do your research on the types of mortgages available to you and find the one that best suits your needs. There are a number of considerations to be made in terms of finding the best mortgage for each individual:



    • What type of market are you in? Are the interest rates falling or rising?

    • Do you want a fixed mortgage rate, where you will always know what your payment is going to be?

    • What are your long-term goals? Do you intend to resell the property? Do you only need the mortgage for a short time?
Provided Courtesy Of Greater Alabama MLS, Inc. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Is Believed To Be Accurate But Not Guaranteed. Copyright ©2021 Greater Alabama MLS, Inc. All Rights Reserved. Data last updated: April 18, 2021
Provided Courtesy Of Montgomery Area Association of REALTORS®. Information is provided exclusively for consumers' personal, non-commerical use, and may not be used for any other purpose other than to identify prospective properties consumers may be interested in purchasing. Information herein is believed to be accurate and timely, but no warranty as such is expressed or implied. Listing information Copyright 2021 Multiple Listing Service, Inc. of Montgomery Area Association of REALTORS®, Inc. All Rights Reserved. Data last updated:April 18, 2021
This site powered by CINC: www.cincpro.com