If you are going to require a mortgage to buy your Active Adult Community home, you will have three basic alternatives:
Your developer/builder will offer to arrange a mortgage and will offer incentives to you to accept their preferred lender.
Your Realtor® (including me) will offer to arrange a mortgage through a preferred lender and represent certain advantages (better and faster service and attractive interest rates).
You can arrange your own mortgage.
In each case, I will assist you in analyzing and understanding the pros and cons of each alternative.
The following links provide extensive information and aids for understanding home mortgages:
Basic Information - These pages, from Freddie Mac, provide the essentials for understanding your mortgage alternatives.
Mortgage Calculators - These Freddie Mac mortgage calculators will help you determine how much you can afford.
Mortgage Pre-Approval - Explains why loan pre-approval is very important to your negotiating position.
More Resources - More mortgage calculators and information from Freddie Mac.
Mortgage FAQs - Frequently asked questions about mortgages. (provided by GMAC Mortgage, OWL55.com preferred lender)
Mortgages - Extensive information on mortgages from RealEstateABC.org.
If you have any questions about mortgages or pre-approval, contact me via the email or telephone numbers below. Or use the QandA Forum to submit questions and review previous answers.
