At HHHunt, we believe it’s how you live that matters and creating meaningful experiences for our homebuyers is at the heart of our Vision. We want your home buying journey to be enjoyable and a major part of that experience is finding a lending partner who you can trust. We recently sat down with Tina Konidaris from NFM Lending, one of our preferred mortgage lenders in Raleigh, NC to answer some of the most frequently asked questions.
What is the first thing homebuyers should do before beginning their homebuying journey?
Get Pre-Approved! It helps the homebuyer understand any hurdles they may be facing regarding qualifying and will also help establish what costs and payments they can be expecting. Making sure those are aligned and all questions are answered prior to shopping will ensure the homebuyer has a smooth experience and can alleviate stress!
Can you explain the difference between the resale mortgage process and the new home construction mortgage process?
When purchasing a new construction home, the main difference is just that the journey is longer than when purchasing a resale. The process of both is very similar in that both loans should be approved by an underwriter within 30 days. With a new construction home, however, we must wait until the home is complete before we can close. Since documents are time sensitive, things like bank statements and paystubs may expire before closing, and the lender will need updated ones. Additionally, the rate on a loan is typically locked once the builder has identified a closing date and the buyer should understand that process as well.
What considerations should homebuyers make when finding a mortgage lending partner for new home construction?
I think the most important thing in a lending partner other than confirming the lender is reputable, is finding someone the buyer is comfortable with. The process of buying a home can be overwhelming and finding a lender that will take the time to explain the process is priceless. Too often people get caught up in trying to find the best rate, but I think that what people truly want is a fair and competitive rate and excellent service.
Tell us a little bit about how the mortgage lending process works at NFM Lending.
We love our buyers! We do everything we can to streamline the process and remove a lot of the tediousness that is often associated with buying a home. Our operations department is top notch and works quickly to approve a loan. And of course, our team here genuinely wants to create a positive experience for our buyers. Our motto is “what can we do to help our buyers.” Sometimes that means meeting them to get paperwork, sometimes it means explaining things, and sometimes it simply just means providing the assurance they need so that they can relax and not stress!
As an HHHunt Homes preferred lender in Raleigh, why do you like working with HHHunt Homes?
HHHunt is a true partner. They are excellent communicators and build a beautiful product. Their closing cost contribution ensures that the buyer not only work with the best but also generously covers the buyers out of pocket expenses. I am thrilled to be on the team!
Have additional mortgage-related questions? Please be sure to ask them on our social media pages and we will connect you with one of our lending partners!