Here are a few quick and simple guidelines you may want to follow in looking for the right mortgage (or if you're ready to take advantage of low interest rates and refinance!):
Know What You Can Afford
The first and most vital step in taking the plunge into a home mortgage is knowing how much you can afford (realistically). Why commit to decades of monthly payments if you know deep down that you might find yourself struggling to make them? If you want a more expensive home and plan on calling it your own it some day, you can always put your current home on the market and upgrade when you're able!
Shop Around for the Best Deal
Even if the first mortgage company you consider is offering a great deal, there may be a better one out there waiting for you. Always shop around and find the right one, rather than the quickest one. This is a commitment that will likely last the better part of your life and you have to think about the long run.
Trust Your Gut Instinct
So you've done your homework, know what you can afford and looked around for the best deal. Now what? Well, it's not all about money. Consult your gut instinct and think about the first impression you got from each candidate. The one that seems the most honest and easy to work with may well be your best choice. If you are being pressured into a deal and you don't feel comfortable, take a step back, take a deep breath, and take some time to yourself to think about it. You'll be glad you did!
The above tips are meant to help prospective or current homeowners make wise decisions for themselves. Follow or ignore at your own risk :)
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