NEWS OLD

How Can a Mortgage Lender Help You Buy a Home?

A mortgage lender approved your mortgage which allows you to buy a home, but how else can they help?

In the journey of buying a home, lenders have been given the title of the villain–the antagonist who has all the power and decides whether or not you will receive a mortgage. A reputation from which the collapse of the real estate market and global economy did not help.

This could not be further from the truth because the reality is that lenders help a majority of Americans purchase a home every single day. Even if you are a bit on the lower end of the credit spectrum, they can actually help your loan go through. Here are a few ways in which lenders can help you buy a home.

  1. A lender can help boost your credit score.
    The biggest reason people can’t get a mortgage is because their credit score is too low and risk too high. The good news is that you can be proactive about increasing your credit score. If your lender just denied your application, they may be more than happy to show you the steps required in order to boost your credit score. It’s a simple symbiosis: they help you, and you are more likely to return to them after you have sufficiently raised your score.
  2. A lender can get you pre-approved.
    If you know you’re ready to buy, it is very wise to go to a lender and get pre-approved for a mortgage. Pre-approval is proof to home sellers that you already have approval to purchase a home.

Mortgages may seem like stressful contracts to obtain, but with the right preparation, they don’t have to be! Contact Dean Rathbun when it comes time to finding the perfect plan of action to buy your home. We are happy to help you.