Let’s face it, finding the right mortgage for Austin homes for sale is a daunting task.   And most of us would just as soon jump off a cliff than spend our weekends shopping for an Austin real estate lender.  However, doing your homework and getting the right loan can save you thousands upon thousands of dollars in the long run….not to mention the stress reduction in finding a lender you trust.  Here are 5 steps the first time Austin home buyer can take to ensure their first mortgage is the right mortgage:

1. Know what you can afford:  Understanding your financial comfort limits will make the home buying process incredibly enjoyable and stress-free.  Decide how much you want to spend on monthly payments for your home and set boundaries.  A good mortgage lender can help you with the real estate financial planning process and your Austin realtor will guide you toward homes within your budget.  We help all our buyers find Austin homes for sale within their price range, ensuring you not only love your house, but your mortgage payment as well.

2. Learn the Language:  Having a solid mortgage vocabulary will put you on a level playing ground with the lenders you interview.  Do you know what discount points are?  How about APR?  Knowing these terms will be an invaluable tool in the mortgage shopping process and reduce of the risk of unwelcome surprises down the road.  And don’t forget to ask your Austin real estate expert either!  Our buyers benefit from having a go-to person for all their mortgage terminology questions and needs.

3. Ask around for referrals:  Anyone who has purchased Austin homes for sale can tell you about their experiences.  Chances are that you know someone who has had a great lending experience and you know someone who wishes they had taken a different lending route.  Why not learn from their experience?  You might just find the perfect lender for your next Austin real estate purchase by asking around.  And if you are unsure of where to find help - We offer all our buyers a comprehensive list of reputable lenders in the Austin real estate area. 

4. Don’t let your emotions take the wheel:  If you’re like most of us, nerves and adrenaline will kick in the moment you sit down to fill out an application with an Austin real estate area lender.  Don’t let your nerves make your decisions for you.  After all, your mortgage could stay with you for the next 30 years.  Make sure you have a clear head for evaluating all your mortgage options.

5. Shop around & negotiate:  The more lenders you talk to, the better you’ll understand your options, and the easier it will be to negotiate.  A few extra hours of research will save you thousands in interest payments and closing fees.  And if you need help finding a lender we provide all our buyers with reputable Austin real estate area lenders who have a track record of not only providing buyers with the best deal out there, but also outstanding customer service. 

6. And finally, USE YOUR AUSTIN REAL ESTATE AREA REALTOR®:  A good REALTOR® is worth their weight in gold when it comes to mortgage shopping.  Your Austin REALTOR® will have a wealth of knowledge that can help steer you in the right direction.  Whether it’s a quick terminology question, lender referral, or help in comparing lenders’ Good Faith Estimates, your realtor will be able to walk you through anything mortgage related.  Make sure you utilize your Austin REALTOR'S® knowledge for your mortgage purchase!   

Always remember, you’re not alone in finding the perfect mortgage for your next Austin real estate purchase.  If you have any questions about the mortgage shopping process, Contact Us and we will ensure you are on the right track.  This is just one of many benefits we offer to bring our buyers one step closer to their Austin dream home!

This was a guest post authored by Heather Lanoue of the Colorado Springs Real Estate Team.