Buying a house is definitely one of the biggest investments that a person or family makes. In most instances, you will be seeking financing from banks and other lenders and this is where having the benefit of working with an experienced mortgage broker can help. (Mortgage Brokers have agreements with banks which provide a lower cost of the financing which allows the Mortgage Broker to be compensated similar to the usual cost of a Borrower going directly to the bank or other lending institution.) As a matter of fact, there are many loan products that might seem confusing to you when you are planning to buy a home. Even when you have a mortgage calculator to help you do the computation, you will still need to seek assistance from an experienced broker who has clear understanding of the requirements. Jerry Stiles has been actively involved in the market for 30 years and has gained expertise and experience that you can seldom get elsewhere.
The mortgage broker does an assessment of your situation and long term financial goals. Jerry Stiles understands that situations of every borrower is different and provides loan comparisons including the details and terms of the loans and will recommend a loan product that is most suitable for your situation. How much you will be paying for a down payment, the costs of the loan, how much you will be paying monthly, and whether mortgage insurance needs to be included/eliminated or just not needed. Many borrowers want to discuss “ARM” loans (adjustable rate mortgages) and fixed rate loans with varying terms such as 30 year, 20 year, 15 year loan periods.