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John Burke
Consultant
Burke Mortgage
Phone: (860) 649-5363
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Shopping for the Right Mortgage
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Finding a
mortgage that's right for you should be easy.
There are literally hundreds of options to choose from,
including Fixed Rate, Adjustable Rate, Hybrids, Interest
Only, Monthly Option ARMs, and Pay Select Mortgages, to
name just a few. Mortgages are available at rates ranging
from an introductory rate of 1.00% to well over 10.00%.
You can finance up to 100% of your home's value and, in
some cases, your closing costs as well.
However, because there are so many options available, it's
important to seek advice from an experienced mortgage
professional who has your best interest at heart. The
first step in determining which program is right for you
is to ask yourself the important questions listed below.
These questions can also help you confirm that you've
chosen the right mortgage professional as well, because he
or she should be asking you the same questions before
trying to put any mortgage in place:
- How long do you anticipate living in your home?
- Do you expect any changes over the next few years,
such as expanding your family or having children go off
to college or even move away?
- Do you expect any changes in income due to
promotions, relocations, retirement, inheritance, or
pensions?
- Are you expecting a change with regard to your
investments?
- When it comes to investment strategies, are you
conservative, aggressive, or somewhere in between?
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The reason these questions are so important is that
different loan programs will offer specific benefits
that will appeal to borrowers at different stages of
life. What one homeowner might find desirable might
cause another to reach for the RolaidsŪ.
In the end, be sure you are given a complete picture of
exactly how much your mortgage will cost you over the
period of time you anticipate having the loan in place.
This is the single most important factor you should
consider when shopping for a mortgage. Not only does
this data illustrate the bigger picture of your
financial goals, it allows for adjustments should things
change a little sooner than expected. A good timeframe
for this projection is anywhere from three, five, or
even up to seven years.
When shopping for a mortgage, you should always
evaluate your choices carefully and consider how they
will fit in with your long-term financial plan. Answer
the important questions listed above and call me for a
free consultation. Together, we'll find the program
that's best for you.
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For more information call Burke Mortgage/ Burke Lending, LLC
 Call Today!
(860) 649-LEND (5363)
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