Top Indianapolis Mortgage Company Shares About Homeownership
There are many advantages of homeownership that most people are aware of such as building equity, investing in the future, and having a place to call your own. But there are some advantages that are frequently overlooked. Let’s go over a few of them now.
Benefits of Homeownership
- You may sometimes pay less to own a home. In many cases, buying a home will result in higher monthly costs than renting. But with the rising cost of rent these days, that is not always the case. Sometimes, you might pay less each month on a mortgage, and less overall even after factoring in additional costs. So, if you are holding back from buying a home because you assume it will be too expensive, look into it further. Indiana real estate prices are often very affordable. You may be surprised.
- Use your home to generate revenue. Something else you can do when you own your own home is taken in tenants. You might even be able to make enough revenue from that to offset the cost of your monthly mortgage payment.
- Spend more time outside. Last but not least, another benefit of owning a home is having a yard. Of course, if you have been renting a house, you already have access to that benefit. But if you have an apartment, you might have no outdoor space at all or just a small balcony. And if you have been renting a space at a mobile home park or the like, you might avoid spending time in your yard, since it isn’t really yours. When you own your own home, you can feel comfortable relaxing on your porch. You also have control of to garden and landscape as you, please. You can even grow some privacy hedges to make your yard more secluded.
Buy a Home in Indiana Now
If you are ready to experience the benefits of owning your own home, Grandview Lending Inc. can connect you with a suitable mortgage. To get started, please give them a call at (317) 255-0062 to schedule your consultation.
Indianapolis Mortgage Company Shares Tips Tips to Refinance Your Mortgage
Indianapolis Mortgage Company Shares Tips Tips to Refinance Your Mortgage
COVID-19 has brought a lot of difficulties and heartbreak, but there is a silver lining when it comes to real estate, and that is some amazing low mortgage rates.
For that reason, a lot of homeowners right now are looking into refinancing so that they can take advantage of those low-interest rates.
If you want to refinance successfully and qualify for the lowest rates possible, what steps can you take?
Refinancing in Today's Market
The following are a few tips that will help you make the most of the opportunity to refinance at today’s rock-bottom rates.
- Make sure your credit is as high as you can get it.
The number one factor which lenders will look at when you try to refinance is your credit score. Just as that was the prime factor when you first applied for a home loan in determining your existing mortgage rate, so it will also be in determining your new mortgage rate.
If there is anything you can do to raise your credit score quickly before you apply to refinance, you may be a stronger candidate qualifying for lower rates.
Here are a few steps you can consider to rapidly boost your score:
- Sign up for Experian Boost if you haven't already. When you opt in to this service, you give permission for your utilities to be calculated into determining your credit score. If you are current on your utility payments and have been for a long time, you could see a significant jump in your score. Best of all, it is instantaneous.
- Check your credit report for errors. You would be surprised by how often they crop up. If there are mistakes in your report which are harming your score, simply submitting a correction could result in an improvement.
- If your credit utilization right now is above 30%, see if you can reduce it below that threshold. Doing so may improve your score.
- Have any debts which you could pay off right now without destabilizing your finances? If so, think about doing so.
After taking the steps above and seeing improvements reflected in your credit score, you can apply for a refinance while feeling confident in your borrower profile.
Just make sure that you do not wait too long to move on the process, because today's low rates may not stick around. In other words, do what you can to boost your score, but do not be a perfectionist.
- Get paperwork ready.
Because rates continue to fluctuate, the faster you can move through the refinancing process and sign, the better.
Just as when you applied for your original home loan, there is going to be a lot of verification documentation necessary along the way.
Michael Farrell from Grandview Lending states, "One way you can move things forward is to grab all the documents you will need in advance. That means gathering the relevant tax returns, pay stubs, bank statements, and so forth and having them ready to share with a lender."
By having those documents ready to present, you make it less likely that the lender will be waiting on you at any point during the process. You can immediately throw the ball back into their court.
- Be ready to pay the closing costs.
See if you can get the funds you need to pay the closing costs for your refinanced loan upfront.
There are two advantages to doing so. The first is that if you get the funds ready in advance, this again will reduce possible delays as you close on the mortgage.
The second benefit is that paying closing costs upfront may reduce the rate on your refinanced home loan.
- Use a mortgage broker.
Another recommendation to successfully refinance at the lowest rate you can is to go through a mortgage broker rather than a direct lender.
A mortgage broker can connect you to an entire network of lenders, shopping around on your behalf. This saves you the time and effort while giving you access to more competitive loan offers.
Refinance Now with Grandview Lending
Grandview Lending is a top-rated mortgage broker in Indianapolis with a well-established network of local lenders offering competitive mortgage rates.
They would love the chance to help you reduce the mortgage rate you are paying now and refinance for other great benefits to a home loan which ideally suits your needs.
To refinance today, call Grandview Lending at (317) 255-0062 to schedule your mortgage refinance consultation in Indiana.
Grandview Lending Ranked in the Top Rated Mortgage Companies
We are excited to say that for the fourth year running, the website ThreeBestRated.com has listed Grandview Lending among its Top 3 Mortgage Companies in Indianapolis. The listing can be viewed at this link.
One of the Top 3 Rated Mortgage Brokers
If you are not familiar with ThreeBestRated.com, the name of the site sums up what it is all about. For every city, the site selects what it determines to be the three best service providers in every niche. This provides a short list for potential customers who do not want to wade through a lot of listings to go straight to the crème de la crème.
The first year that Grandview Lending achieved this honor was in 2016. We also were selected in 2017 and 2018 and are now listed for 2019.
Just as ThreeBestRated.com likes what we are doing here at Grandview Lending, we like what they are doing with their website. ThreeBestRated does not accept payments from business owners for listings. As the site explains in their FAQ, "We handpick the best businesses using our 50-point inspection. It includes everything from reviews, business reputation, cost, satisfaction, to general excellence."
We are very pleased that through such a rigorous inspection process, we continue to emerge on top for our area. Receiving feedback like this is a great confirmation that everything we are doing each day to serve our customers is paying off not only for us, but also for them.
From the Team at Grandview Lending
Speaking of which, the team here at Grandview Lending would like to say “thank you” to each one of you who have chosen to work with us as your Indianapolis mortgage broker. Because of your loyalty and amazing reviews and referrals, our business has continued to grow every year, giving us the chance to connect more amazing customers throughout the state with competitive home loans.
Please take a moment to check out our listing at ThreeBestRated.com. And thank you again both to our customers and the team at ThreeBestRated!