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2011-10-14 10:05:57
Shopping for Utah Homes for Sale?

Shop, Compare, Negotiate Mortgage Offers

Lady with colored shopping bagsEver feel like you’re at the mercy of your favorite mortgage lender? The U.S. Department of Housing and Urban Development (HUD) says that’s just not so. In fact, HUD wants Utah home buyers to “shop, compare, and negotiate” when it comes to securing a home loan.

Regardless of your race, religion, sex, or credit status, you always have options when it comes to securing a loan. First-time Utah home buyers are sometimes intimidated by the process. In truth, home owners collectively pay hundreds and thousands of dollars in fees and interest every year. Make no mistake, mortgage lenders will compete for your business.

Shop. Even if you have a favorite and trusted lender, shop around. It’s worth the little bit of extra time it will take and can help you feel more secure about signing on the dotted line. HUD offers an online mortgage worksheet at http://www.hud.gov/buying/booklet.pdf. Print it out and carry it with you when you shop for loans.

Compare.The HUD mortgage worksheet will give you an upper hand when you visit with mortgage lenders in person. Don’t be afraid to lay your sheet on the table and invite lenders to compete. Look at all aspects of offers you receive:

  1. Fees
  2. Points
  3. Interest
  4. Terms
  5. Repayment options
  6. Lender reputation and track record with accrediting organizations such as the Better Business Bureau

Negotiate. In today’s buyer’s market, Utah home shoppers are likely to see Interest rates and points change daily. HUD recommends checking local newspapers often so you can get a sense of the market’s direction.  If rates hit the floor, ask lenders to quote new offers and buy while the rates are hot.

Our licensed real estate professionals are wise. Years of experience in the Utah homes for sale market have taught us the art of negotiation. Let us help! Browse Salt Lake City homes for sale, Bountiful homes for sale, South Jordan homes for sale, or all Utah homes for sale online right now. Call us at 801-673-3333 and we’ll show you around Utah homes and the home buying process. We’ll stand by you every step of the way.

 
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