Lending Made Easy

Lending made easy.

Borrowing money to buy a home or property is common. 

There are various ways you can position yourself financially to purchase a home. The abundance of options can make it hard to decide, but we recommend taking a higher-level perspective first to know what is best for you.

• What is Lending? Lenders are individuals, groups, or institutions that let you borrow money for a set period and repay it with interest. They come in various forms, from banks and credit unions to friends, family, and specialized institutions. For our purposes, we’ll assume using a bank or credit union. 
• What is a Mortgage? A mortgage is a loan secured with real estate or personal property

To help organize the assessment we recommend performing the following:

• Research: Do research online to know the types of programs out there. However, as a locally owned and operated real estate agency, we prefer working with local lenders because we have seen more successful transactions for our clients and fewer issues for our clients. 

• Safety and Security: Be aware that as you start looking around and registering on sites for information, if the online resources ask you to disclose personal financial information, consider pausing and making a call instead. 

• Focus on Financial Strength: Consider a 15 or 20-year fixed-rate mortgage. This will help you get in a stronger financial position more quickly. However, the payment would be higher monthly, and your path to ownership would be closer. 

• Savings Mentality: You’ll save money over the life of the loan when you choose a shorter period. Therefore, ensure you lock your interest rate in so it doesn’t change on you mid-loan. The math is easy; if you can take a 15-year mortgage, you’ll have the loan paid off in half the time of a 30-year mortgage, and you’ll save all the interest you would pay over that period. 

Want more guidance? Give us a call. We are happy to help you explore your real estate investment options 307-635-0303! Also take a few minutes to listen to RE/MAX Capitol Properties agent, Belinda Sawyer, as she shares her experience on home lending made easy! Be sure to subscribe to our YouTube channel for more real estate tips, listing videos and community happenings. If you are a first time home buyer you’ll find additional resources HERE.