Every year more and more people are attracted to the Arizona city of Tucson. It is a moderate sized city, so there is plenty to do and the climate is just fantastic just about all year round. The city is also a fantastic place to purchase a new home. There are some great deals to be had on new homes as well as some great deals to be had on mortgage interest rates.
Getting an Agent
For a new home mortgage in Northampton County, a person must first hire an agent that knows the Tucson area. Finding an agent that knows the particular neighborhoods of interest is even better. The city is large enough that a person cannot possibly know and understand every area and neighborhood in Tucson.
Once an agent has been found, and some potential properties have been located a person can then proceed to applying for a home mortgage in Northampton County. The mortgage company will need the property address for which the loan is being applied for. If multiple options are being considered then choose the one with the highest asking price. That way, if approved, the borrower can easily pick any of the homes without having to go through the pre-approval process all over again.
The Loan Process
Once a pre-approval has been given to the borrower, the next step is to go through the actual loan process. In years past, borrowers would deal directly with the lending institution whether it be the bank or Federal credit union. Today, the more popular choice is to go through loan officers or mortgage brokers. These agents work on behalf of the borrower and arrange all the necessary paperwork. The overall process of going through a loan officer or mortgage broker is much easier, and communication is better. The loan will then get processed sooner. Banks and lending institutions encourage this practice as well because there is less overhead on their part because they are not responsible for the bulk of the paperwork necessary for home loan applications.
In many cases, going through a loan officer or mortgage broker ends up costing the borrower less in fees. Besides being able to offer lower rates on their fees for services, many of the loan officers and mortgage brokers have pre-arrangements made that can get a borrower a lower price on certain fees and services required for the home loan to be approved. This includes an inspection, law firm, courier fees, appraiser, etc.
Overall, hiring a loan officer or mortgage broker is quite a common practice today and is encouraged by both lenders and borrowers. Just like with any other hiring though, it is always wise to ask for referrals to check the reputation of the loan officer or mortgage broker.
Rob Sanchez is a senior loan officer for Fidelity Bank, a full-service mortgage bank that has helped customers finance their loans for more than 30 years. Financial services include mortgage home loans, first time buyer loans, refinance loans, a home mortgage in Northampton County, and more. Service areas include Tucson and Green Valley, Arizona.
