Buying a house is super exciting. What is not so exciting? Finding a lender to sort out your finances in order to do so. Finding the right lender for you though, is one of the most important details. Not all lenders are the same, many offer different rates, give you different benefits, and also just honestly care more about their clients. 

Did you know that just half of a percent difference in your interest rate can change your monthly payment by $75? For those who don’t want to do the math, that is $900 a year. Think of all the ways you could use that money. You could buy a plane ticket to your vacation, you could pay off some bills, or play more rounds of golf! If you’re feeling ambitious, you can put that extra money towards paying your mortgage and end up paying your house off 3-5 years sooner! 

Now that we’ve put these thoughts into play, I’m sure you’re wondering how to find the right lender. Well, I’ve found them for you! Purple Ink Mortgage is my go to spot and Lee Robinson is my favorite lender. I sat down with him to discuss the common misconceptions and the fears people have behind mortgage lending. The biggest myth I hear is that you need to put 20% down, but the truth is in some cases you can even put as little as 0% down. There are plenty of options out there, some that don’t put emphasis on a credit score and will allow you to only put 3% down with a 580 credit score! 

Another myth I hear is that their nervous to shop for loans because they believe the credit checks bring down their score and in return hurt their chances for getting a loan. This is a normal part of business to get credit checks, but in Lee’s twenty years of experience, he’s never not had someone be able to buy a home due to his credit check. 

Lastly, I hear a lot of people say it doesn’t matter what lender you use. Often times people say they don’t even care if they are using a local lender and will be totally fine with using an online lender. I got to say this couldn’t be more wrong. Aside from the obvious advantages of having someone in person to assist you through the entire process and answer any and all questions you have without having to sit on hold, at Purple Ink Mortgage you have someone who is there for you and will come in early and leave late to assure you have what you need.