HomeMortgage Lender In Grand Rapids, MI

Grand Rapids, MI

Our mortgage brokers are here to assist you
Mortgage Broker Lenders Grand Rapid, MI

Mistakes First-time Homebuyers in Grand Rapids, Michigan Should Avoid

One of the most exciting and nerve-wracking experiences of your life is buying your first home in Grand Rapids. In addition to finding the right place, you must also find the right mortgage and rely on a trusted Mortgage Broker in Grand Rapids. A lack of inventory in many local markets and rising home prices nationwide can make finding an affordable home difficult.

Before you visit houses and start making offers, your financing must be in order before you start looking for a home. The best Mortgage Lenders in MI will want to see your credit history, credit score, debt to income ratio, and overall financial picture to determine if you are creditworthy enough to borrow money.

Home-buying and mortgage mistakes are common among first-time buyers. Below are some examples of mistakes to avoid.

You’re not monitoring your credit

Before buying a house, no one likes surprises. Your interest rate and terms may be less-than-ideal if you or your spouse have an obvious credit problem, such as a history of late payments, debt collection actions, or significant debt (or your loan may be denied). In either scenario, you may find yourself pushing back your ideal timeline.

Unfortunately, negative items such as late payments or delinquent accounts that are current and accurate cannot be quickly removed. Your credit report will show these items for between seven and ten years. If you pay your bills on time, pay more than the minimum amount to settle your debts, and keep your credit limit below the maximum, you can improve your credit score. Have the patience to improve your credit score. It may take a year or longer to improve your credit score.

You can also see your credit score for free from your bank, credit union, or credit card provider. Low credit scores may make it difficult to get approved for a conventional mortgage. FHA loans require a minimum credit score of 580 to be eligible for maximum financing (3.5% down payment), or 500 with a 10% down payment. Accessed December 22, 2020.

Getting Pre-Approved for a Loan While Searching for Homes

There’s no time to waste on the perfect house once you find it. A number of hot markets have multiple bidders and stiff competition. If a buyer does not have a preapproval letter from their Mortgage Lenders in Grand Rapids, the seller may not consider their offer. A preapproval letter demonstrates to a seller that the lender has done its due diligence to ensure you are able and motivated to repay your debts, based on your credit history and score, income, employment history, and financial assets, among other factors.

Without a pre-approval letter, sellers are unlikely to take you seriously in a competitive market, and you could lose out on the home you really want. The document outlines the loan amount for which you are eligible, your interest rate and loan program, as well as your estimated down payment. Mortgage Lenders in MI may ask for proof of funds for a down payment (especially in high-cost areas or competitive markets). An expiration date is also included in the pre-approval letter, usually within 90 days.

Loan Estimates and Closing Disclosures Should Not Be Compared

A closing disclosure must be provided to you by your lender and Mortgage Broker Grand Rapids three business days before the closing date. The closing costs listed in this document include the down payment, closing costs, loan terms, and other important information. This is a five-page document; make sure you compare it with the initial loan estimate you received to ensure you aren’t being charged extra fees by your lender.

Ask your lender or Mortgage Broker in Grand Rapids why certain fees went up more than expected. You may run into paperwork issues on closing day if basic details, such as your name, aren’t listed correctly. You should inform your lender immediately if you find errors or unexplained extra fees. In some circumstances, closings may have to be postponed so that the documents are updated and corrected, and if there are any issues they are addressed.

In conclusion

Avoid accidentally sabotaging your mortgage and home purchase. While they may seem innocent, these mistakes can create massive headaches and side-track your closing. Ensure the process is smooth from pre-approval to closing by talking to the best and the expert mortgage lender. Try to keep all of your financial documents organized and updated in order to provide documentation if your lender asks for it. These documents include bank statements, W-2 forms, deposit records, tax returns, and pay stubs.

    Get Pre-Approved Now!


    Get Pre-Approved Now!


    Get Pre-Approved Now!


    Get Pre-Approved Now!

    Reviews

    The mortgage services provided by the company were excellent. The mortgage staff was very helpful and made the process easy to understand. I would definitely recommend this company to anyone looking for mortgage services.
    Eduardo
    Eduardo
    07:03 08 Aug 22
    The company's home loan services were excellent. I was able to get a loan with a low interest rate and a comfortable monthly payment.
    Sam Ball
    Sam Ball
    10:25 29 Jul 22
    The company's mortgage services were very professional and the staff was very helpful. They made the process very smooth and easy to understand. We are very happy with their service.
    Tia Ohman
    Tia Ohman
    11:51 25 Jul 22
    The mortgage services provided by the company were very efficient and helped me a lot in completing the process smoothly. The company's staff was always available to answer any questions I had and helped me understand the process better.
    Mike Velarde
    Mike Velarde
    10:18 22 Jul 22
    Thank you for your amazing mortgage broker services. Your professionalism was greatly appreciated. Your service was timely, efficient, and exceeded my expectations. I would definitely recommend you to anyone in need of a mortgage broker. Thank you!
    Clemente Ferreira
    Clemente Ferreira
    07:49 12 Jul 22
    I highly recommend PierPoint Mortgage to anyone looking to purchase a home. Their service was extremely professional and fast. I was helped out in a very efficient manner. I got the mortgage at the lowest interest rate. Awesome company!
    Tom N. Greenhill
    Tom N. Greenhill
    07:44 09 Jul 22
    I am very pleased with the service I received from this mortgage broker firm. They assisted me in obtaining a home loan with minimal paperwork, and they were very quick to respond to any questions I had. Thank you for helping me.
    Dawn Ward
    Dawn Ward
    04:04 07 Jul 22
    They were a lifesaver when I was buying my first house. They made the process simple and explained everything in detail. I would recommend them to anyone looking for a mortgage.
    Juanita E. Allison
    Juanita E. Allison
    04:30 16 Jun 22
    They are quick in their work and also help you in case of any trouble while processing the loan.
    Easley Palladino
    Easley Palladino
    12:06 31 May 22
    This mortgage company is fantastic. I highly recommend their services to anyone.
    Heather Sanderson
    Heather Sanderson
    07:34 26 May 22
    The people at mortgage were there for me the whole time. They were very helpful. They did all the work with such ease that I was really impressed with their services.
    Camille Mitchell
    Camille Mitchell
    10:38 14 May 22
    A huge shout out to the entire team for helping me with my recent mortgage. I have already recommended the mortgage company to all my friends and family.
    Geraldine Lane
    Geraldine Lane
    14:56 21 Apr 22
    Thank you so much for helping me out in such a short time with an easy loan.
    Aida Franklin
    Aida Franklin
    10:18 18 Apr 22
    Thanks so much for assisting me in such a short time with an easy loan.
    Elaine Cox
    Elaine Cox
    11:09 09 Apr 22
    As soon as I called, I was able to reach you, and when the loan was disbursed, I was able to contact you very easily. It was a great experience.
    Tammy Cooper
    Tammy Cooper
    10:40 05 Apr 22
    I’d like to thank my mortgage broker for helping me with the quick approval of my loan.
    Jeanette Hunt
    Jeanette Hunt
    07:40 01 Apr 22
    My mortgage broker was highly informative, helpful, and knowledgeable. I’m fully satisfied with the services offered by him.
    Ricardo Knight
    Ricardo Knight
    12:45 29 Mar 22
    Thank you so much for your constant guidance and support while we were applying for a reverse mortgage. I am grateful to you.
    Jorge Green
    Jorge Green
    07:39 23 Mar 22
    They're fantastic! They were always there to answer any questions we had about the loan process.
    Janis Bell
    Janis Bell
    11:24 26 Feb 22
    They are the best mortgage lenders who can offer low-interest home loans through their quick service. The application process was straightforward and only took a few hours to finish!
    Carmela Perry
    Carmela Perry
    06:25 16 Feb 22
    I'm quite pleased with their home loan service. When you're facing financial issues while buying a new home, it's a great mortgage company to turn to for support.
    Marlene Fields
    Marlene Fields
    13:02 11 Feb 22
    They put in a lot of effort to help us obtain the right loan. The entire team is highly trustworthy and pleasant to work with.
    Genevieve Kennedy
    Genevieve Kennedy
    02:40 07 Feb 22
    Their continuous commitment, service, and presence are unmatched. This loan organization comes highly recommended by me to anyone looking for a mortgage.
    George Phillips
    George Phillips
    05:04 02 Feb 22
    Thank you to their entire team for making my house loan experience as stress-free as possible. I am really delighted with the services provided!
    Paula Fisher
    Paula Fisher
    07:40 17 Jan 22
    After being denied by two separate banks, I was able to have my refinance approved after a few days. The procedure was simple and painless, and they were there to answer my questions at any time.
    Stacey Collins
    Stacey Collins
    08:07 13 Jan 22
    We just want to say thank you for helping us with the home loan process. We appreciate all of your hard work and we couldn't have done it without you. Thank you so much, guys!
    Elisabeth Kennedy
    Elisabeth Kennedy
    03:37 12 Jan 22
    They helped me a lot by giving me an instant home loan. I’m very happy with their services and would like to recommend them to everyone who is looking for the same kind of help.
    Stacy Flores
    Stacy Flores
    09:36 03 Dec 21
    The team was so knowledgeable, responsive, and made the entire home loan process as effortless as possible. Definitely the best mortgage company. 5-star service!
    delora milton
    delora milton
    07:50 22 Nov 21
    My loan application was handled quickly and efficiently. It was a fantastic experience. They are the best home loan, providers.
    Patrick Bell
    Patrick Bell
    06:03 28 Oct 21
    I had a lot of questions and they answered quickly. However, the service I received at first contact put my mind at ease. The team explained the entire process clearly and listened to my concerns. They made me feel comfortable about applying for a home loan online, so I decided to go ahead with the application.
    Harry Burke
    Harry Burke
    05:55 18 Oct 21
    Their team is highly professional and efficient. I received a jumbo mortgage loan for my new house with their assistance throughout the entire process. This is definitely a company I would recommend.
    Dorothy Rosato
    Dorothy Rosato
    07:55 14 Oct 21
    We have always been able to get the money we needed from them, and we have always had a very positive experience with them. The VA loan experience I had with them was excellent.
    Denise P. Ford
    Denise P. Ford
    12:19 27 Aug 21
    Getting a loan at a low-interest rate is very important to me, so I contacted this mortgage company for help. Their staff was very helpful and cleared all my doubts concerning the loan, and the interest rates were very reasonable. Thank you for making things possible for me.
    Ana M. Pagan
    Ana M. Pagan
    04:21 18 Aug 21
    This lender would be a good choice for anyone who is looking for a home loan. In just three days, I received approval for my loan, and I only had to provide a minimal amount of documentation.
    Renaud Masquelier
    Renaud Masquelier
    10:51 11 Aug 21
    The process went very smoothly, and these mortgage brokers kept me informed about the loan's progress on a regular basis. My loan was approved in a timely manner as well. Without a doubt, I would recommend their services to others.
    Nasir hossain
    Nasir hossain
    09:50 28 Jul 21
    I contacted them at the end of the year, during the holiday season. Even on the last working day of the year, they were extremely helpful and cooperative in providing me with prompt assistance.
    Ellis Friedman
    Ellis Friedman
    10:06 17 Jul 21
    I'm impressed by what a great company you are. All of your applications are thoroughly reviewed and you are taken into account as an individual. They will do their best to help you. Everything was so nice and they helped me so much with the conventional loan.
    Aydan Mcdaniel
    Aydan Mcdaniel
    06:57 15 Jul 21
    I am suffering from cancer and wanted some money for my treatment. I wanted a reverse mortgage of my house so that I can use this money for my treatment. Thank you, PierPoint Mortgage for making things possible for me and doing the reverse mortgage of my house. Now, I can use this money for my treatment.
    Kathleen Campos
    Kathleen Campos
    11:04 09 Feb 21

    We Are Here To Help You

    Grand Rapids, MI

    With 50 years of experience in the industry, PierPoint Mortgage is offering the finest mortgage services. We deal in various mortgage programs that will help you become a proud homeowner.

    Address
    Grand Rapids, MI
    (616) 208-2860

    ABOUT US

    PierPoint Mortgage, LLC, was founded in 2003 and have been offering brilliant services ever since. PierPoint Mortgage is a nationwide mortgage broker that has over 50 years of mortgage experience.

    NEWSLETTER

      © Copyright 2022 PierPoint Mortgage. All Rights Reserved.