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How the right mortgage can open doors and how to find it

Alerus | APR 15, 2019

Using inside info, special offers and local insight to get the best mortgage

They're not all the same. The right mortgage can open the door to the life you want, not just the house you want.

With the right guidance, you can get more out of your resources, secure special terms, and make your offer more attractive to sellers. Here are some things to consider when planning your next chapter.

  • Fit your mortgage to your life, not just your house.
    Think about your life after you move in, before you move in. How long do you plan to live here? Are there kids in your future? What other dreams do you want to finance? The answers might affect what your mortgage looks like. For instance, buying “points” will reduce your monthly payments but cost cash up front. When do you need those resources? 
  • Tap your mortgage banker's inside info and experience.
    A mortgage banker is like a concierge. They know all the tricks and have the access others lack. Have your mortgage banker walk you through the fine print and help you sort through offers. Hint: it isn’t about picking the lowest number. For example, some great-rate mortgages may have hidden fees and even penalties for paying early.
  • Match the mortgage to the market to give yourself an edge.
    Just as no two markets are the same, mortgages aren’t one-size-fits-all either. Having a pulse on what’s happening locally can help you get a mortgage that will make your purchase easy. In a hot market, mortgages with fewer hoops to jump through may be more desirable to sellers and make your offer stand out.
  • Ask about special mortgage programs not widely promoted.
    Depending on your line of work or where you live, you may qualify for a special mortgage program.  

Far more than bedrooms, bathrooms and square footage, a home is where memories multiply. Finding the right mortgage will let you concentrate on what matters most.


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