The mortgage process: What you need to know

January 31, 2017 | Higgins Group Real Estate

Mortgage Process - Higgins GroupBuying a home is among the biggest financial decisions you’ll make in your life. Before starting your search for the perfect home however, you need to take a look at the mortgage market.

When you’re looking at mortgages, there are many things to consider – this is a task that should never be taken lightly! Here’s what you need to know before you browse listings:

Set a budget

The mortgage price isn’t the only thing you need to consider – you need to take into account other factors as well, including taxes, insurance, maintenance costs, utilities, and more. Next, you need to calculate a monthly payment amount you can afford, so you can figure out a suitable home price.

Do some research on the process

Get in touch with agents, lenders, or anyone who has gone through the mortgage process so you can gain a better understanding. Having someone trustworthy and knowledgeable at your side is a smart move, as he or she can help you with an otherwise intimidating process.

Always be ready financially

You need to be ready for the unexpected at all times. Accidents could lurk just around the corner, so it’s best to always set aside savings just in case something unexpected happens.

Choose an ideal lender

Don’t go with the first lender you find – it’s best to get in touch with several others and do your research, as not all lenders offer the same price. Make sure you completely understand every detail, including the interest rate, terms, fees, and other factors.

Once you’ve found a prospective lender, learn more about how they operate, and familiarize yourself with their process, so you can know whether or not they’re a good fit for your goals.

Take a look at our list of recommended mortgage companies, or read more about home financing here.

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Higgins Group Real EstateChristie's International Real Estate Leverage
EAC Trumbull 550-552 White Plains Road
Trumbull, CT 06611
Phone: 203-259-2172
Fairfield Center 1499 Post Road
Fairfield, CT 06824
Greenfield Hill 129 Hillside Road
Fairfield, CT 06824
MILFORD 146 S Broad Street
Milford, CT 06460
Monroe 97 Main Street
Monroe, CT 06468
Norwalk 50 Water Street
Norwalk, CT 06854
Norwalk/Vanderblue 154 East Avenue
Norwalk, CT 06851
Rowayton/Vanderblue 151 Rowayton Avenue
Norwalk, CT 06853
Shelton 2 Trap Falls Road Suite 314
Shelton, CT 06484
Stamford Greenwich Regional 1055 Washington Boulevard
Stamford, CT 06901
Trumbull 5767 Main Street
Trumbull, CT 06611
Westport 278 Post Road East
Westport, CT 06880
Wilton 5 River Road
Wilton, CT 06897
Stamford East Side Commons 850 East Main Street
Stamford, CT 06902

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