Finding the Right Mortgage 

As part of the credit coaching process, INHP loan officers will help you find the right mortgage to suit your financial situation. You will feel more confident knowing someone is on your side, looking out for your best interest.

Just as potential home buyers have different financial situations, mortgage lenders have different loan programs. Needless to say, one type doesn't fit all.

At INHP, when you are ready to apply for a mortgage, one of our mortgage loan officers reviews your credit history and helps you find loan products that you may qualify for based on your individual financial situation. We also help you prepare and submit your loan application for pre-approval. Even after you submit your loan application, our coaches are available to support you through the entire home-buying process. We'll be there for you all the way through your closing.

Ask Questions
When you begin the process of shopping for a mortgage, you'll want to ask lots of questions. Here are some examples.

"Is there a pre-payment penalty on the loan?"

It is important to compare mortgage loan terms, including interest rate, terms available, and costs. If you are armed with the knowledge to ask the right questions, the probability that you will be taken advantage of is limited. INHP's Home Buyer Education Course addresses many of these questions. Click here to learn more and register for class.


Avoid Pitfalls
Inflated appraisal
Whether you're a prospective buyer or a current homeowner, be wary of inflated appraisals. An appraisal will determine the maximum amount you can borrow. If the appraisal is inflated, you may end up paying more for your home than it is worth and/or borrowing too much. Then later, if you resell your home, you may end up owing more than your house is actually worth. Ask your Realtor® to provide recent sales prices of similar homes in the neighborhood. Use the sales information given to you to determine how much homes similar to yours sold for and how long they were on the market.

Too good to be true
Some lenders and/or brokers will be eager to sell you on a mortgage product. Be careful of those "too good to be true" deals. As the old saying goes: If it sounds too good to be true, it probably is.

Check to verify if your lender is licensed. You can do a quick check by visiting  the National Mortgage Licensing System and Registry Web site.

Get Pre-Approved
After you complete your home-buyer education, you want to evaluate which lender to use and begin the pre-approval process. Getting pre-approved empowers you to go out and submit a competitive offer on the house you want to purchase. If you are pre-approved, you have a higher success rate in the search for a home than prospective buyers that are not pre-approved. When a seller knows you are pre-approved they also know you are a viable buyer that can close a mortgage and buy their house. When you are pre-approved for a mortgage, it really reduces the amount of stress you'll feel while negotiating for your dream house.

If you are interested in meeting with an INHP Loan Officer to discuss loan product options, click here to register and submit a request. A Loan Officer will be in touch with you shortly.