I love Charleston!
With rates at incredible lows, if you have good credit and some money to put down on a home, you can be selective when it comes to shopping for a mortgage.
Here are the steps to finding the best rate and loan for you:
1) Shop Around for a Competitive Rate
Ask your Realtor, friends, co-workers and family for recommendations on mortgage lenders. If you belong to a credit union, it is smart to get a quote from them as well since they are usually able to charge less than commercial banks. The key is letting each lender know you are shopping around.
2) Get Pre-Qualified for a Loan
Once you decide on your lender, get pre-qualified and ask for financing options that will work for you. During this process, you will also learn how much you qualify for.
3) Apply for the Loan
Once you contract on a home you will begin the full loan approval process with your lender.
4) Lock Your Rate
Interest rates fluctuate and most lenders will not suggest locking until you are 30 days from closing. Your lender will keep you updated on the market and rates.
I love Charleston!