Mortgages 101: Part 1 Where Can I get a Mortgage & What Is Included in my Payment?

Where can you get a mortgage? And What is included in my monthly payment?

You can get a mortgage loan from a variety of sources, including:

Banks: Most major banks offer mortgage loans and have a wide range of products available.
Credit unions: Credit unions are non-profit financial institutions that are owned and operated by their members. They may offer more favorable terms and rates than traditional banks.
Mortgage brokers: A mortgage broker is a professional who acts as a middleman between borrowers and lenders. They can help you find the best loan product for your needs.

It's important to shop around and compare different lenders to find the one that best suits your needs and goals. It is also good idea to consult with a mortgage professional or financial advisor for guidance and support throughout the process.

Are you a new homebuyer? Are you lost when it comes to mortgages? Welcome to Mortgage 101 with Miles where each week I explain the details of mortgages and give tips on what YOU can do to understand them better.

I'm a mortgage broker licensed in Utah, Colorado, Idaho, and Minnesota. I can help you find a rockstar mortgage broker in your area if you life outside of these states.

3 - 📞 Call/Text - 385-250-1411

NMLS 103819/3152
Miles Pitcher - Superior Lending Associates, L.C.

Getting a mortgage begins with determining how much you can afford to borrow, and then shopping around for a lender who can offer you a loan at a favorable interest rate and terms. Before you start the process, you should gather important financial documents such as your credit report, income statements, and proof of employment. Next, you will need to submit a loan application to the lender, which will include a detailed explanation of your finances, including your income, assets, and credit history. The lender will then review your application and credit history, and if approved, provide you with a pre-approval letter. After that, you will need to find a property to purchase and provide the lender with a purchase contract. The lender will then conduct an appraisal of the property and determine if the home meets the loan requirements. If everything is in order, the lender will approve the loan and you will be on your way to closing on the mortgage.

3 - 📞 Call/Text - 385-250-1411

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