Maine is a smaller, rural state but the banks that make home loans here are savvy.
Maine is the 46th lowest state in the nation for FSSR (foreclosure, short sale, repossession) tainted, affected real estate home sales. You can not beat local decision making in a Maine bank, any home lender.
And slow downs to turn arounds from Maine home loan application to the real estate closing can happen.
Especially if the Maine home loan servicing is done out of state.
At the mercy of vendors, too many sets of eyeballs and requests for one item at a time that is holding up the Maine bank home loan.
Far far away home approval making decisions and loan underwriting can kill a house real estate sale from simply running out of time.
The seller and buyer of a Maine home have a life clock decision making timer ticking and finding a local bank, loan "arranger" can make all the difference in a property sale happening or not.
Like a doctor, lawyer, church, vacation spot, a real estate agent or anything else in life, a good comfortable fit is essential. The experience of buying a home is emotional for both the house buyer and seller. So the first impression, mood, loan expertise and tone of the Maine banker is everything.
Often a deposit relationship, or past experience with the Maine bank means check with that branch first you already know and use now.
When you apply for a home loan, what do you need? The process is painless. No one needs to donate a kidney, other vital organ or your first born.
Remember the Maine bank needs, wants and should bend over backwards to help you with a home loan.
Or any other type of lending you need along the pathway of life.
Bring in proof of income, preferably two years of your income tax returns.
A current pay stub that could reflect a recent raise at your job. What you own and where on your car, child support, school loans, past medical bills, other purchases affects your income to debt ratios.
The Maine bank home loan interviewer does not want you over your head, losing the house. Don't buy a new car, get divorced, quit your job, make any changes that affect your credit once the Maine home buying process starts, when you apply for a house loan.
Being pre approved BEFORE you go house hunting, means any Maine home you do look at, consider, is one that the trip back to the bank is a postive one.
With the Maine home loan banker not having to say we have a problem. This place you just fell in love with, showed your family and have your heart set on is not in your price range or not in the home loan program you qualify for. The seller of a Maine home also takes any offers to buy way way more seriously when the agent, broker can tell the real estate owner that this buyer is pre approved.
Has already been to the bank, is ready to roll, purchase a Maine home.
Proof of identification, and when you do have a home ready to go under contract, a signed purchase and sale agreement is needed. Along with a legal description of the real estate (the deed) and a property tax bill. Picking a Maine home loan attorney to handle the legal work, one that operates locally is key too. Servicing, turn around with all the players involved in your Maine home loan is critical.
Here is a Maine home loan bank video of Southern Aroostook options for house lending, other financial services.
If you are a veteran needing a Maine VA home loan, or to consider other lending options to buy a house, the local banker will know the programs that fit your situation best.
Sometimes a blend of a Maine State Housing home loan with another program, a MSHA/VA or MSHA/RD (Rural Development) mortgage can work well. Maine, one big state with friendly down to earth people. If you are after a Maine home loan, I would love to be the local real estate broker to help in the search, to get you a set of keys to the house of your dreams tied to the size of your wallet, purse.
MOOERS REALTY 69 North Street Houlton Maine 04730