You are a Maine home buyer, not flush with cash.
Want to buy some real estate in Maine, but need a home loan mortgage, some financing. So wandering out onto the information highway.
Like sliding a buffet cafeteria tray down the aluminum tubes.
Under the sneeze guard, you are getting hungry.
Anxious to buy a Maine home for your young family but needing backing, a mortgage loan.
But unlike the days of rent a long time to save up the 25% down payment, deal with a local lender.
And everything done in the home town bank with a character assessment of you, the property, the title.
It is way way more complicated now.
Because Maine home buyers don't have 25% of the house price all squirrel away, mortgage insurance is needed. Add in some flood insurance if the Maine home is somewhere Noah will be blowing through after building the 100 year Ark.