Article provided by: Seattle's Mortgage Broker - Joe Tafolla
The Many Benefits of Choosing a Mortgage Broker for Seattle Home Loans:
The Situation: You’ve been turned down by your bank for a home loan and are looking into options to ensure you get the funding you need for your upcoming purchase. You may have been told you would never be able to find a lender who could offer you a rate as low as what you could obtain from your bank, but that’s actually not true in most cases. Instead of taking that advice to heart, there are other options you might not have thought of, such as contacting a mortgage broker. Call our team at SMB to discuss your financing needs.
The Solution: Most home buyers are unaware that working with a mortgage broker can result in finding a loan at a lower rate and better terms than even their long-term banking institute could offer them. While that’s not common knowledge, it is information that is important for any home buyer to hear. Brokers have access to a wider network of lenders who typically compete for your business, so you may end up getting a rate much lower than from your bank, with terms that are more tailored to meeting your budget.
The Situation: You’ve been told by your bank that your credit score was too low for you to be considered for a loan. Your bank offered to see you again in 6 months to determine whether you are able to improve your credit score and qualify for a mortgage. If you’re looking to purchase a home now, your bank’s offer is not one that will end up benefiting your family.
The Solution: At SMB, our agents are able to draw from a large network of lenders who make Seattle home loans every day for clients with low credit scores- and even those with no credit history whatsoever. Even with a low credit score, you may end up paying a lower rate of interest through one of our programs. Our VA Prime program, for example, provides financing to clients with scores as low as 550, and is just one of many options available to home buyers with less than ideal credit.
The Situation: You have a good source of income, but have not been able to save for the down payment of a house. Your bank has advised that you set up a savings account with them to start putting away money for the down payment of a home, but you’re ready to make your move right now.
The Solution: Down Payment Assistance loans through Seattle Mortgage Brokers ensure our clients receive affordable Seattle home loans at 100% financing, with a credit score as low as 640.
Feel free to contact one of our agents by phone or through our website at SMB if you’d like to learn more about one of our Seattle home loans that are tailored to your needs. We’re dedicated to helping you get the funds you need to purchase your dream home- and we are committed to doing so while searching for the lowest interest rate available.
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