How Do I Find the Best Mortgage Company for Me in Boca Raton?

When it comes to finding the best mortgage company in Boca Raton to help fund your home purchase, it takes some research and luck to find the right one. When you hire a mortgage company in Boca Raton like Ace Mortgage Loan Corp., you will have chosen a tried and true company with over 30 years of experience and glowing testimonials from satisfied clients. It’s not always easy to navigate the loan process alone and that’s why you need a mortgage company who can help you with everything from pre-qualifying and determining how much you can afford to finding a title company to filing the final papers at closing. At Ace Mortgage Loan Corp., we have a talented team of professional mortgage brokers who will assist you with all of your mortgage needs from start to finish. One of the first things you’ll need to do is determine how much of a house you can afford. There are some homeowners who are in the dark about how much they can afford and may choose a property that is way over their heads and others who are actually so conservative that they end up passing up a dream home that they could have easily afforded. At Ace Mortgage Loan Corp., we will help you determine just how much home you can comfortably afford and go through all of the necessary steps with you to help you obtain it.  

What are Some of the Requirements to Obtain a Home Mortgage Loan in Boca Raton? 

  1. Money for a Down Payment – Although it isn’t required for all loans, a down payment of 20% can increase your eligibility for a loan. If the down payment is less than 20% of the purchase price, most lenders will require that you pay PMI, (Private Mortgage Insurance) PMI is a lender’s protection in the event that you default on your primary mortgage and the home goes into foreclosure. 
  1. Debt to Income Ratio – Most lenders will want to know how much debt you currently have. This monthly debt is then divided by your gross monthly income to give lenders a better idea of how well you manage your monthly debts and if you can afford to repay a monthly loan. 
  1. Credit Score  Each mortgage lender has a minimum credit score that they will accept. While the favorable score is usually around 720, you don’t necessarily have to have that to receive a home mortgage loan. Usually, but not always, the lower the score, the higher the interest rate you’ll likely be offered. 
  1. Employment History – The lender will want to make sure you are working regularly and are reliable as a borrower. The longer you have worked at a company, the better your chances are for a lower interest rate and better terms.   

Making sure you meet your lenders requirements is extremely important in obtaining a home loan with a home mortgage company in Boca Raton. However, when you use Ace Mortgage Corp. as your home mortgage company in Boca Raton, you can be sure that you will receive the best available rates that you qualify for. If you are interested in learning more about our services, please contact our knowledgeable home mortgage specialists at (954) 777-4774.  We look forward to helping you obtain your dream property! 

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