There are other surprising numbers. For example, 31% of respondents do not know that a mortgage can be acquired with less than a 5% down payment. With all these misconceptions, mortgage lenders in Georgia and around the country should share the responsibility of educating the buying public. They should be able to show and explain to homebuyers how the lending process works in detail, so the latter will arrive at the most favorable purchasing or lending decisions. The survey also reported that 24% of the respondents believe that banks, where they have existing savings and checking accounts, offer the best mortgage deals. In reality, prospective buyers will have a better chance of getting favorable deals through competing lenders who are capable of significantly undercutting what banks are offering.
http://georgia.churchillmortgage.com/industry-news/mortgage-lenders-in-georgia-and-other-areas-need-to-educate-prospective-homebuyers/Monday, October 21, 2013
Monday, September 23, 2013
Trusted Mortgage Lenders in Georgia Offer Various Mortgage Insurance Options
In a Yahoo! Finance article posted July 20, 2013, Scott Sheldon explains how single-pay mortgage insurance can help reduce the cost of owning a home. The article dissects the inner workings of a typical mortgage insurance package, then offers suggestions as to why homeowners may want to consider applying for single-pay insurance. Among other things, this option can result in lower monthly outlays. Home buyers in Georgia could certainly benefit from such helpful advice, considering that one out of 117 homes in the state ends up in foreclosure. In fact, Georgia currently has the fifth highest rate of foreclosures in all of America. Yet finding effective ways to reduce one's monthly mortgage payments is simply one part of the formula for averting a looming foreclosure. The other part lies in picking reliable mortgage lenders in Georgia who take the time to understand every borrower's financial situation.
http://georgia.churchillmortgage.com/industry-news/trusted-mortgage-lenders-in-georgia-offer-various-mortgage-insurance-options/