Money Matters

Expert Mortgage Advice To Obtain Best Deal For Needs

The real estate market is hot, and mortgages are in high demand. Here to share details about these loans is Wade Quinn, the producing area manager for Bell Bank Mortgage in Brentwood.

Why is it a great time to obtain a mortgage?
Interest rates are at, or near, an all-time low, making this an opportune time to get a mortgage. Capitalizing on lower rates helps you save money – and qualify for a higher mortgage amount.

What terms and rates are available right now? Do you see those changing in the near future, or do you think they’ll hold steady for a while? Currently, Bell Bank Mortgage interest rates are still low. Of course, a person’s loan-to-value ratio and credit score play a major part in determining the exact rate. As far as terms go, we work with clients to determine the term that best fits their needs and qualifications. A lot of people are taking advantage of low-interest rates and refinancing their homes to save money, and some are pulling out equity for other uses, such as debt consolidation, home improvements and investments. Some customers are also getting rid of the private mortgage insurance (PMI) they may have had when they purchased their home. Here at Bell, we offer a wide variety of loans including conventional, jumbo, FHA, VA, USDA, THDA, construction to permanent financing and lot loans. We also have a new program offering as little as 1% down with no mortgage insurance for qualified low-to-moderate income borrowers. Most of our loan programs offer either a fixed or adjustable rate, depending on what the customer needs.

What advice would you give prospective home buyers who want to apply for a mortgage?
I would suggest shopping around and getting more than one quote. You’ll be surprised at the differences in fees and interest rates charged by different firms. I also recommend people choose a local mortgage company with experienced mortgage lenders who have an established reputation in their market.

Why is it important for a buyer to choose the right mortgage for his or her own lifestyle and goals? Do you have any tips for finding the right one?
At Bell Bank Mortgage, we pride ourselves in taking the time to get to know our customers and asking multiple questions to figure out what is most important when choosing their mortgage program or loan. Some customers want the ability to pay off their mortgage as quickly as possible. Others are looking for the lowest monthly payment. There are many options and scenarios, so we try to make sure customers get the best mortgage tailored to what they need. Again, I would suggest doing business with a local company that is willing to meet with you in person, by phone or via video conference. Your local lenders will take the necessary time to get to know you and make sure you get the best mortgage. Local lenders have a vested interest in providing you with the best loan available, because you’re going to be their neighbors and hopefully friends. We also have a reputation to maintain with local realtors and builders that shows how much we care about and take care of our customers.

Why should people trust Bell Bank Mortgage to get the best rate and terms available?
Backed by the financial strength of one of the nation’s largest family-and-employee-owned banks, we pride ourselves on working in our customers' best interests. We have low fees and great interest rates. We strive to be the only mortgage lender you will ever need – a Bell customer for life. Bell has been voted one of the nation’s Top Five Banks by Forbes for the past several years. American Banker named us among the best banks to work for in 2020. We achieved those accolades in part by treating our customers right and providing them with the best loans and service available.

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