You are on your way to homeownership and we are so glad you’ve found Edge Mortgage Inc! When you’re thinking about buying a home, one of the first steps you’ll want to take is to get a mortgage quote. It’s an essential part of the home-buying process and can help you understand what you can afford and how to plan your finances. As a mortgage broker who serves all of Colorado, Ohio, Nebraska, and Wyoming, we have access to many different lenders and products to find a loan to best fits your needs. It’s good to go with a mortgage broker instead of a big bank because you’re not limited to the only loans the one bank has to offer. When you work with us, you’re not just another number and we have your best interests at heart!
Going through the home loan process can feel confusing and overwhelming at times. While we strive to make it as quick and easy of a process as possible, we also think it’s helpful for you to be informed. Knowing the steps and what to expect is a huge part of helping you feel at ease. Let’s walk through the process of getting a mortgage quote and learn more about why it’s so important and how you can get started.
What is a Mortgage Quote?
A mortgage quote is an estimate from a lender that gives you an idea of what your mortgage could look like. It includes key details such as the interest rate, monthly payments, loan terms, and any fees associated with the loan. Getting a mortgage quote is crucial because it helps you understand the potential costs and makes it easier to budget for your home purchase. You can get a mortgage quote or use our mortgage calculator as a start to getting an idea of numbers. We can also get you pre-approved with an easy online application.
The Importance of Getting a Mortgage Quote
Financial Planning
A mortgage quote is an important tool for financial planning. It allows you to see how different interest rates and loan terms can affect your monthly payments and the overall cost of your loan. This information is essential for setting a realistic budget and ensuring you’re financially prepared for homeownership.
Comparison Shopping
One of the biggest benefits of getting a mortgage quote is the ability to compare offers from different lenders. Even a small difference in interest rates can lead to significant savings over the life of your loan. So, by shopping around, you can find the best deal and save money. We work hard to beat any of our competitor’s offers and get you an even better loan than other mortgage brokers or lenders.
How to Get a Mortgage Quote
Preparation
Before you start reaching out to mortgage brokers, gather some basic information. You’ll need details about your income, credit score, and the amount you plan to use for a down payment. Therefore, having this information ready will help you get the most accurate quote possible.
Steps to Obtain a Quote
- Contacting Lenders Directly: You can call or visit lenders to request a quote. This can be time-consuming but gives you a direct line of communication.
- Using Online Tools: Many mortgage brokers offer online mortgage calculators and quote tools. These can provide quick estimates and are a great starting point.
- Working with a Mortgage Broker: Above all, a broker can gather quotes from multiple lenders for you, saving you time and effort. We take the guesswork out and leave you with more money in your pocket.
What to Look For
When reviewing your mortgage quote, pay attention to key factors such as the interest rate, APR, fees, and loan terms. These will have the biggest impact on your monthly payments and the total cost of your loan. Don’t get stuck with fees or a higher commission rate that you weren’t aware of.
Understanding Your Mortgage Quote
Breaking Down the Quote
A typical mortgage quote will include:
- Principal and Interest: The core components of your monthly payment.
- Taxes and Insurance: Estimated costs that may be included in your monthly payment.
- Closing Costs: Fees associated with finalizing your loan.
Questions to Ask
Firstly, don’t be afraid to ask questions about your quote. Different brokers and lenders charge different fees for their services therefore, make sure you find out what that particular entity is charging you. Some good questions to ask include:
- Are the rates fixed or adjustable?
- What fees are included in the quote?
- Are there any potential hidden costs?
Moving Forward After Getting a Mortgage Quote
Next Steps
Once you have your mortgage quote, you can use it to make informed decisions about your home purchase. Consider getting pre-approved for a loan based on your quote because it can give you a clearer picture of what you can afford.
Finalizing Your Mortgage
After choosing the best mortgage option, follow through with the necessary steps to finalize your loan. This includes submitting all required documentation and completing any additional requirements from your broker. Additionally, we have a history of getting people quick approvals and cleared to close. Edge Mortgage Inc. will certainly be by your side each step of the way.
Get a Mortgage Quote with Edge Mortgage Inc.
In conclusion, getting a mortgage quote is a crucial first step on your path to homeownership. Therefore, it helps you understand your financial options, compare offers, and make informed decisions. If you have any questions or need help getting started, feel free to reach out. My team and I are here to assist you every step of the way.
Read some of our many 5-star reviews from satisfied clients
“Keri and Edge Mortgage made our dream a reality. She was very professional and knowledgeable about the entire process. Keri went out of her way to make sure we were always informed on where we were in the process and what was next. Great experience. Would highly recommend Keri and Edge Mortgage.” -Gary
“Company went above and beyond to assist in all areas of the purchase. Communication was fast and responsive. Keri walked us easily through a very difficult process to put us in our new home.” -Todd
Get a mortgage quote with Edge Mortgage Inc. and start your path to homeownership today!
Edge Mortgage Inc. is located in Johnstown, Colorado, and serves all of Ohio, Colorado, Wyoming, and Nebraska. We offer honest answers and a stress-free process. We have no hidden or extra fees, keeping more money in your pocket. Edge Mortgage Inc. is your trusted mortgage broker and we are ready to serve you. Call us today at 970-744-0000.
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