Mortgage Company Matthews, NC
Top Questions to Ask a Matthews, NC Mortgage Broker
Whether you already own a home and you’re looking to take out a refinance mortgage or you’re on the market for your first home, if you live in the Union County area and you’re looking for mortgage companies near me, make sure you get in touch with Jet Direct Mortgage. As a leading mortgage company that has years of experience, a proven track record of success, and offers a variety of loan options, we can help you secure the best rates on a mortgage that will meet your specific needs.
While there may be a lot of mortgage companies in Matthews, NC, you don’t want to choose the first company you find. It’s important to do your due diligence and choose a lender that is transparent and will meet all of your needs; after all, a mortgage is a significant expense and you want to be sure you’re working with a broker who can help you get a rate that you can comfortably afford.
How can you narrow down all of the different mortgage companies and find a broker that you can feel confident in and comfortable working with? By asking important questions before you make your final decision. Let’s take a look at important questions that you should ask when you’re looking for a mortgage broker. The answers you receive can help steer you in the right direction.
What Type of Rates do I Qualify For?
The interest rates on home loans have a significant impact on the total amount you’ll end up paying. Rates change on a constant basis, so you want to make sure that you’re working with a lender that offers the best rate possible. Do some research and find out what the average rate is in your area. For example, if you’re looking to refinance your current mortgage, check out what the current refinance mortgage rate today is, and when you contact a mortgage broker, ask what rates they’re currently charging. Be leery of a rate that appears to be too low, as more than likely too good to be true. It’s not uncommon for lenders to advertise a much lower rate than they can actually offer as a way to draw prospective clients in. Generally speaking, the rate should be within close range of the going interest rate at the time that you are shopping.
How Much of a Down Payment Do I Need?
A down payment refers to the part of the total price of the property that you’ll be putting down when you complete the purchase. If you’re purchasing a new home, for example, the amount you put down goes straight to the seller and the remaining amount will be added to your mortgage. Therefore, the larger the down payment you make, the lower your loan will be.
While putting down as much as you possibly can is ideal, you may not be able to put down a large sum. Ask a prospective mortgage broker to assist you with mortgage calculations to determine how much of a down payment you’ll need to put down. The minimum amount you’ll have to put down will depend on several factors, such as the type of loans you qualify for and your personal financial situation.
How Much are Closing Fees?
Whether refinancing or taking out your first home loan, there are a lot of fees involved, and many of those fees can be rolled into the mortgage itself. However, with that said, there are some expenses that you will have to pay on your own. Those expenses will have to be paid when you go to closing; hence why these fees are known as “closing costs”. Closing fees vary but can include title searches and issuance, appraisal fees, mortgage origination fees, just to name a few.
The type and amount of fees you’ll have to pay when you go to closing will vary and depend on several different factors. Make sure you ask a prospective mortgage broker what type of closing costs you’ll be expected to pay so that you aren’t taken by surprise and are fully prepared when closing day arrives.
How Long does it Take to Process a Loan?
The amount of time it takes a lender to process a mortgage and fund the loan varies; however, on average, the processing time is between about 21 and 45 days. That’s a rather large difference. The longer the processing time, the longer it’s going to take for you to go to closing. As such, you should definitely find out before you decide on the mortgage broker you’re going to work with what their average processing time is so that you’ll know when you can expect to have the mortgage and closing process completed.
Want to Work with the Best Mortgage Broker in Union County? Contact Jet Direct Mortgage!
If you’re looking for a reputable mortgage broker to assist you with the loan for your Matthews, NC home, get in touch with Jet Direct Mortgage. Offering years of experience, numerous programs, affordable rates, and fast approvals, it’s no wonder why we’re considered the leading mortgage company in Union County. To schedule an appointment with one of our friendly and knowledgeable mortgage brokers, call 855-553-4732 today! We look forward to hearing from you and helping you get the best rate possible for your mortgage.
Some information about Matthews, NC
Matthews is a town in southeastern Mecklenburg County, North Carolina. It is a suburb of Charlotte. The population was 27,198 according to the 2010 Census.
In the early 19th century, the new settlement that would become Matthews was unofficially named Stumptown for the copious amount of tree stumps left from making way for cotton farms. The community’s name later changed to Fullwood, named after appointed area postmaster John Miles Fullwood. The establishment of a sawmill and the cotton and timber industry helped Fullwood change into a town. Prior to the first train arriving on December 15, 1874, Fullwood acted as a stagecoach stop between Charlotte and Monroe. The town was incorporated into a municipal corporation in 1879 and was renamed Matthews for Edward Matthews, a prominent resident, and director of the Central Carolina Railroad, which would later become known as the Seaboard Air Line Railroad.The Seaboard Air Line merged with the Atlantic Coast Line railroad on July 1, 1967, to form Seaboard Coast Line railroad. It then became Seaboard System on January 1, 1983. Seaboard System then merged with Chessie System to create CSX; reporting marks are CSXT.