Time

When an excited couple finally finds the PERFECT home after searching for 6 months, you can often hear a pin drop when you explain it will take approximately 45-60 for a closing.  “But on HGTV they just find a house and move in the next day…”  HGTV is limited to a half hour slot, they only show you the good stuff! 🙂

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The best start you can get when shopping for a home begins before you even start looking at houses.  Getting pre-approved for a mortgage requires an in-depth mortgage application and providing several documents to ensure the bank has the most accurate overview of your income.  Once these items are completed and submitted, a mortgage broker can then approve you for a loan that is most suitable to your situation or give you options to choose from.  This pre-approval from the bank is a crucial tool for Realtors to assist you in finding the perfect home; it helps to eliminate homes that do not qualify for certain mortgages, see and fix bumps in the road before we get to them, anticipate required documents and expedite them in a timely fashion, predict costs that the buyer may not be aware of and keep the train on track for a timely closing.  NOT having a pre-approval can often delay a closing up to an entire month!

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How do you get pre-approved?  I often tell folks to start with their primary bank, if they do not offer particular loans that best suit your needs, they can often refer you to another bank that can.  Stay local as often as possible…I can not stress this enough, local banks are better informed of local market conditions, use local resources such as appraisers and inspectors, have the ability to make local decisions that may have kept you from meeting mortgage guidelines and have the face to face service you expect when you are making one of the biggest decisions of your life!

Locally here in Calais the following banks and brokers are happy to assist you!

Machias Savings Bank

Cindy Leighton 1-207-561-2741

Ron Gardiner 1-207-561-2740

Camden National

Wendy Beal 1-207-497-5902

Theresa Macklin 1-207-518-5711

The First

Lou Esposito 1-800-564-3195

Bangor Savings

Diane Hunnewell 1-207-454-0223

Down East Credit Union

Joanne Cushing 1-207-427-5959

Becky Perkins 1-207-454-8940

 

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