Are you a first-time homebuyer? Do you feel overwhelmed and intimidated by the often complicated terminology used in the mortgage industry? Do you not even know where to begin with applying for a mortgage?
If this sounds like you, don’t fret! There are plenty of internet resources that you can use to make your mortgage application process much smoother. Below are a few tips and tricks on the different internet tools and websites available for you to use at every stage of the application process:
Online Resources for First-Time Homebuyers
Searching for a Home
Finding a website that can reliably provide you with credible listings is key to your purchasing of a home. Some credible listing sites include:
Each of these sites provides you with trustworthy real estate listings in just about any location you can think of. You can research homes based on size, price, local income levels, and school district quality. Conducting research through a listing website can also help you learn more about your own preferences, and narrow down your home options to a few choices. Be sure to check out each site to see what they offer and find what works best for you!
Learning Mortgage Terminology
After finding a home, you still have most of your work ahead of you. Before moving forward, however, it is essential to educate yourself on mortgage terminology. Although attempting to understand all of the terms out there can be daunting, there are many resources that can help you. For example, Investopedia is an educational website where you can look up just about any financial term and find an easy-to-understand definition. Additionally, there are a multitude of articles and online blogs intended to help educate home buyers like yourself, like Garden State Home Loan’s own blog.
Other Resources for First-time Homebuyers
If you are looking for information that is more tailored to your personal financial situation when buying a house, consider resources like online mortgage calculators or local brokerage websites. Mortgage calculators allow you to estimate mortgage costs based on your own finances. For example, you can calculate things from how much loan you can afford to what down payment percentage is right for you. Additionally, by looking at your local brokerages’ websites, you will be able to find cheap rates and even arrange a one-on-one meeting with a loan officer.