The Virtual Loan Shopper was developed to ensure that you are fully informed of your best mortgage options. You can anonymously receive dozens of "real time" loan program quotes then compare these quotes against your local bank's offer.

FACT:
A mere 1/2 of a percent higher interest rate on a $300,000 mortgage will result in your paying a $95.28 higher monthly payment! Over 30 years this means you have paid an extra $31,303 in interest on your loan! Wow! That's a lot of money! But this upfront loss is only the beginning. This over payment of interest can actually cost you over $89,000!


If you will be financing your new home purchase the first step will be to determine the best available financing for your unique borrowing needs. In today’s tumultuous lending environment, this is not as easy as it once was. However, there is absolutely no reason to spend days or weeks searching for your perfect home if the financing is unavailable to purchase that home.

Are you concerned about your monthly budget? Here are the items you must know before making an offer to purchase any home:

• Principal and Interest Payment (The interest can fluctuate until it is formally locked by the lender.)
• State & local Taxes (Ask the property seller or your agent for current tax amounts.)
• Hazard Insurance (Request an insurance quote before you place any offer!)
• Home Owners Association (HOA) Dues (Ask the seller or your agent about any HOA dues.)
• Flood Insurance (Many areas have recently been re-mapped, ask your insurance agent to perform a Flood Certification before you place an offer to purchase any home.)

Armed with the knowledge you're pre-approved for your best financing program, you can now begin the search for your perfect property. However, if you are using a FHA, or Rural Development (RD) government loan program, it is very important to ensure that the property meets the eligibility requirements. These programs may have limitations as to the location of the property and/or the maximum loan for the county in which you will be purchasing. You can find state specific information about these loan products in the government loan section of the Virtual Loan Shopper.

If you will be financing with a 100% USDA Rural Development (RD) Loan you will want to ensure that your household income qualifies for the program. Find this information on the Virtual Loan Shopper.

At this point you should know your loan has been pre-approved, and qualifies for the property area where you wish to purchase. It is time to start house shopping!

SmartHomeSearch.com has made it easier than ever before to get an overall view of the properties that are available in your search area. You can search the MLS to view properties listed by local real estate agents. You can also view properties offered For Sale By Owner. Looking for a deal? Easily find SALE properties that are discounted for quick sale by banks or private sellers.

Note:
Even if you are considering the purchase of a For Sale by Owner or bank owned property, it is a very good idea to utilize the professional services of a real estate Buyer’s Agent. Their services typically cost you nothing. However, these trained professionals can lead you through the complexities of the transaction and possibly negotiate better terms for the sale.

Many SmartHomeSearch affiliate real estate agents provide a FREE home warranty to home buyers using our website. Click Here to locate an Smart Home Network Agent in your home search area.

See Buyer Savings for an illustration of how Smart Home Buyer Advantage discounts will save you a ton of money!