JSMedia – The 20th Annual Mortgage Lenders Fair is a one-stop-shop for a home loan. The event includes an educational exhibit hall, Lenders’ Fair, lunch and a beverage.
You can meet with representatives from different mortgage lenders to determine which loan is right for you. You can also visit a lender’s booth to get the inside scoop on the latest mortgage programs.
Once you find a mortgage lender, you can compare their offerings and compare interest rates. Once you choose the lender that offers the lowest interest rate, the next step is finding a loan that is within your budget.
20th Annual Mortgage Lenders Fair
Taking out a loan that exceeds your budget may be a mistake, so make sure you know your limit before you visit the lender’s booth. Most lenders will preapprove borrowers based on their income, debt, and outstanding loans. It is important to remember to factor in your monthly bills and other revolving debt, including student loan payments, and credit card balances.
Once you find a mortgage lender, you must determine how much house you can afford. It is not uncommon for lenders to let borrowers qualify for a mortgage that exceeds their budget. This can be a bad financial move. Instead, lenders will preapprove you based on your gross income, outstanding debt, and revolving debt. They do not include any monthly bills that you may have.