Madison WI Homes for Sale: Buying your first home key #1: Choosing the right lender

Monday, March 5, 2012

Buying your first home key #1: Choosing the right lender

If you are a first-time home buyer seeking to buy a home in Madison, one of the first things you should do is get your mortgage pre-approval. As you go about this your lender will educate you on the home loan process, and you will learn about the home loan programs that are a good fit for your personal situation.

The question is which lender should you choose? The answer depends a lot on your personal finances and the type of property you wish to buy. There are many excellent lenders to choose from, but you will want to select a lender who has the experience and the knowledge to deliver the loan program that is the best fit for you.

For example, if you are someone seeking down payment assistance, you will want to select a lender who is well-versed in the variety of down payment assistance programs available in Madison and Dane County. Similarly, if you are seeking a low down payment loan program, you should select a lender who has the ability to educate you on your many options and help you choose the program that is the best fit for you.

If you are buying a condo, we highly recommend you select a lender who has a strong track record of successfully closing many condo loans.

If you are buying a duplex and using your rental income to pay your mortgage, you should choose a lender who has experience with income properties in our market.

If you are veteran, you'll want to work with someone who is well-versed in the VA Loan program.

The list goes on...

Choosing the right lender is an important first step in your journey toward buying your first home. If you are in need of a lender, we'll be happy to refer you to one who is a good fit for your goals and individual situation. Feel free to contact us, and we will promptly assist you.

Click to contact the DaneCountyMarket.com real estate team.