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Technology has shifted the home buying experience into the hands of the consumer. Tools like smartphones, tablets, laptops or desktop computers have made buying a home vastly more transparent allowing you access to information at the tip of your finger.
Even a few short years ago, the “privileged” information used to be held by lenders and real estate agencies, keeping the average consumer away from non-biased information about their mortgage choices. Since then, the power has shifted into the hands of the consumer allowing you to make the best choices for your individual situation.
Most people would agree that our lives are busy, we function at a fast pace and there is no expectation of things slowing down. Thanks to recent technological innovations consumers have access to tools that can make life a bit easier and allow you a good place to start.
Mortgage calculators can help you figure out what you can afford, assist in helping you identify if you should refinance if you should pay a discount for points to lower your interest rate and things of that nature. In addition, mortgage calculators can also be used to verify any information given by the lender.
Simply stated a mortgage calculator can help you understand what you would pay each month, as well as estimate monthly mortgage payments and rate options.
Your credit rating/score are integral in your mortgage decision process. Lenders encourage everyone to remain mindful of their credit score because your final rate and the approval itself depend on your credit score.
Under The Fair Credit Reporting Act (FCRA), each of the nationwide reporting companies (Equifax, Experian, and TransUnion) is required to provide you with a free copy of your credit report, upon request, once every 12 months.
There are free ways to check your credit, one site, AnnualCreditReport.com, allows you to select the reports you want and view them online.
There are multiple other credit check services available, but AnnualCreditReport.com is the only government-mandated free credit report site.
Some lenders have taken the virtual lending process a step further by allowing you to apply directly from your tablet or mobile phone. Many lenders’ sites are mobile-friendly, allowing you to apply for a mortgage wherever you are.
Saving for a down payment can be one of the most challenging tasks of buying a house. There are online sources that offer a searchable database of local and national assistance programs that may be able to save you money.
With dreams and inspirations of what your future home will look and feel like, future homebuyers can use home design apps to put their ideas into virtual reality. These apps allow you to take and storeroom measurements, make notes on design ideas and see virtual tours of what your décor plans will look like in your new home.
Eventually, you will need to talk to a lender and this is a good thing, they are the professionals, but with the tools that you have used, you will walk in with more knowledge than you would have had in the past. We offer several of these tools to our clients and if you would like more information or access please contact us and let us know what your needs are. We are here to help make your first or next home buying experience exceptional.
The Certo Team
55 N. Arizona Place
Suite #103
Chandler, AZ 85225
602-429-6789
