MIDFLORIDA, Your Community Credit Union.

View All Branches

Locate a Branch/ATM

Geolocate ZipCode

Information for You

Posted on: March 20, 2017 at 11:18 AM
Categorized in: Consumer Education, Mortgage

Mortgage 101: Communication

When making a decision as big as buying a house, communication is key.

Whether you’re thinking about purchasing your first home or you’ve already been around the block a few times, you’ll want to follow these tips to ensure you feel comfortable and prepared on your path to homeownership.

Communication tips for homebuyers

  1. Know the lingo. ARM, debt to income ratio, escrow, points, PMI… what does it all mean? If the professionals are using foreign words, don’t be afraid to speak up and ask for clarification! (You can also study up on your real estate vocab by taking a look at our glossary of financial terms for simplified explanations.)

  2. Set clear expectations. While one homebuyer might expect daily communication, another wants their phone ringing only when absolutely necessary. Let your real estate agent and mortgage specialist know at the beginning of the process how frequently you’d like to touch base. That way, they won’t communicate too little or too much and you’ll be kept in the know as much as you’d like.

  3. Keep in touch. Give your mortgage specialist a heads up if you’re going out of town or will be otherwise unreachable for a more than a day or two. Many steps along the home buying process are time sensitive and require an almost-immediate response. Letting them know when you’ll be unavailable can help prevent scheduling conflicts and missed deadlines before they happen.

Experience the MIDFLORIDA difference

Ready to make your homeownership dreams come true? You can rest easy knowing that MIDFLORIDA’s mortgage specialists will be there every step of the way, providing clear and continual communication. If you’re ready to get started on the home buying process, contact one of our Mortgage Specialists or apply for a mortgage online.

inter