Mortgage Company East Marion, NY
Mortgage Company in East Marion, NY 11939
Questions to Ask Suffolk County, NY Mortgage Lenders
When prospective homebuyers in the East Marion, NY area are looking for a mortgage broker, there’s one company they know that they can count on: Jet Direct Mortgage. Offering decades of experience and an outstanding reputation, we’ve helped countless Suffolk County residents secure the financing they need to purchase their homes. Whether you’re a first-time homebuyer or you’ve owned a home before and you’re looking to purchase another property, when you choose nmls from Jet Direct Mortgage, you can have confidence knowing that you’re working with one of the best mortgage lenders in the Suffolk County, NY area.
You’ve found a house in East Marion that meets all of your needs and it’s in your price range. You’ve also done your research and created a list of prospective mortgage companies near me to get the process of securing financing started. But before you commit to a loan, you want to make sure that you’re choosing the best mortgage company. A home is one of the biggest purchases you’ll ever make, so it’s vital that you do your research and properly vet prospective mortgage companies before you sign on the dotted line.
How can you narrow down the options you’re considering and find the one that best meets your needs? – By asking questions! The answers you’ll receive will have a huge impact on your financial life for years to come, so it’s important to ask the right questions.
Here’s a look at some of the top questions you should ask when you’re meeting with prospective mortgage lenders near me.
What type of loan is best for my specific needs?
FHA, VA, Conventional; there are so many different types of home loans available. But which one will best suit your needs? By asking the mortgage company you’re thinking about working with, of course.
In response to this question, a reputable Suffolk County lender will ask you a series of questions that pertain to your unique situation. For example, the lender may ask if you’ve ever purchased a home before, if you currently own a home, and what industry you work in. Based on the answers you provide, a broker will be able to recommend different options that will work for your particular situation. Additionally, make sure you ask the lender to explain the advantages and disadvantages of different loan options.
How much of a down payment should I have?
A down payment is a portion of the total sale price of the house you’re interested in purchasing. It goes directly to the seller and the rest of the sales price will be derived from your mortgage. The large your down payment is, the less you’ll need to secure from a home loan.
Obviously, putting down as much as you possibly can is recommended; but for most people, coming up with tens of thousands of dollars can be exceedingly difficult. It used to be that buyers had to put down a minimum of 20% of a home’s purchase price; however, today, you don’t have to put that much down. There are a lot of payment options that require down payments that are as low as 3%; in fact, if you’re a veteran or an active duty service member and you qualify for a VA loan, you may not have to put anything down.
The minimum amount you’ll be required to put down depends on the loan prospective East Marion lenders have suggested.
Do you offer any down payment assistance?
There are more than 2,500 programs for homebuyers in the U.S., and these programs are available across the nation. Sponsored by state and local housing agencies, these programs offer assistance toward down payments, closing costs, and other fees that are associated with purchasing a home. Issuing agencies determine which lenders write loans for these homebuyer assistance programs.
While many Suffolk County lenders do participate in some type of down payment assistance program, not all do; moreover, the programs that mortgage companies participate in vary from lender to lender. Therefore, if you are interested in receiving assistance, find out what, if any, programs the prospective lenders you’re meeting with offer. Furthermore, find out what the eligibility requirements are and whether or not you meet those requirements.
What about closing fees?
A lot of the fees that are associated with buying a home will be included in your loan; however, you’ll be expected to pay a number of fees out of your own pocket, and they’ll be due the day you go to closing. They can include appraisal fees, title searches, title issuance, surveys, attorney fees, mortgage origination fees, and more.
Closing fees vary, so you’ll want to find out ahead of time what type of closing costs you’ll be expected to pay so you aren’t hit with a huge surprise on closing day.
What’s the average loan processing time?
The average amount of time it takes a lender to process and fund a mortgage is between 21 and 45 days; a pretty big disparity. The longer it takes to process your loan, the longer it will take to go to closing. Therefore, it’s a good idea to find out ahead of time what a potential lender’s average processing time is so that you have a basic idea of what you can expect.
Jet Direct Mortgage: One of Suffolk County’s Top Mortgage Lenders
If you’re looking for a mortgage company in the Suffolk County area, head to Jet Direct Mortgages! Offering an impeccable reputation, a variety of loan and program options, low rates, and rapid turnaround times, you can count on us to get you into your East Marion, NY home as quickly – and as affordably – as possible.
To schedule an appointment or to learn more, please call 855-553-4732 at your earliest convenience. We look forward to helping you achieve your dream home.
Some information about East Marion, NY
East Marion is a census-designated place (CDP) that roughly corresponds to the hamlet by the same name in the town of Southold in Suffolk County, New York, United States. The CDP population was 926 at the 2010 census.
The first inhabitants were the Orient Focus People, Native Americans who lived in the area about 1000 BC. They vanished long before the arrival in about 900 AD of the Corchaugs, who called the area Poquatuc. The Corchaugs were still present when six English families settled in 1661. The new residents called the area Oysterponds because of the abundant shellfish that they began to gather and sell to nearby communities. While farming remained the principal occupation, trading vessels began operating out of the sheltered harbor during the colonial period.
British troops landed in 1776 during the American Revolutionary War. Many families fled to Connecticut, and the Redcoats periodically plundered the farms they left behind. After Benedict Arnold switched sides, he organized raids on Connecticut from Oysterponds. The British returned during the War of 1812, setting up what turned out to be a porous blockade against American ships sailing to New York City. In 1814 Commodore Stephen Decatur anchored his American squadron off Trumans Beach but never engaged the British. After the war, renewed farming and fishing brought prosperity to Oysterponds. By 1840 more than 30 schooners were operating out of the harbor, carrying fish and produce.
Orient and East Marion originally were called Oysterponds Lower Neck and Oysterponds Upper Neck, respectively. In 1836, the two communities went their separate ways with new names. Orient was chosen to reflect the area’s easternmost position on the North Fork of Long Island. East Marion was named for Gen. Francis Marion, the “Swamp Fox” of the Revolutionary War. “East” was tacked on because of an existing town of Marion upstate.