MORTGAGES 101
HOW MUCH CAN YOU AFFORD?

     MAXIMUM Efforts--MAXIMUM Results!!!
Buying a home usually means obtaining a mortgage loan.  You will find a useful mortgage calculator below that will give you the monthly payments that you could expect given your particular financing situation.  If you need current discount rates, there is a link just below that will keep you current.  You will see some pretty crazy differences between all the banks and credit unions.  Use the lowest rate you can find on a 5 year term to begin with.  REMEMBER 1.  The mortgage industry is very competitive.  Your broker will get you the best rate and terms.  There are two rate types; posted rate which is high and discount rate which is currently about 1.3 % less.  Think of it as wholesale vs retail or gas that one day is 89.9 and the next day 69.9.  Competition is beautiful and your broker will take care of ensuring you get the full benefit of discount financial services.  REMEMBER 2.  The lowest rate is not necessarily the best mortgage.  Terms add value.  REMEMBER 3.  If you are going to be moving out of your local area, unless you are with a major institution, you may not be able to take your mortgage with you.  Even some large credit unions do not have a banking network and, therefore, you may need to pay a prepayout penalty, usually 3 months's interest.  REMEMBER 4.  There is too much to remember-ASK YOUR MORTGAGE PROFESSIONAL.

We Can Help You Out!-GREAT RATES! CLICK HERE
This may be the most important step in your home purchase process.  And it is so easy to do without needing to spend a lot of time.  Please fill out the information below and I will put you in touch with our own trusted RE/MAX RUSSBAILIE Team mortgage professional who will take the hassle out of getting a mortgage, provide you with a depth of knowledge, explain all of your financing options and get you the best rate at no cost to you!  How's that!  Our brokers are paid by the financial institution who claims your mortgage at the best rate and terms.  Your mortgage  person takes all your necessary information and makes applications on your behalf to the institutions thereby saving you the hassle of running from bank to bank and removes you from the sometimes embarrassment of trying to negotiate with bankers.