Choosing a Mortgage
If you’ve found a Real Estate professional you feel you can trust, don’t hesitate to ask them for two or three referrals to mortgage specialists. Often, they’ve had the range of experiences with lenders and mortgage representatives that will enable them to match you with the right people for your situation. Alternatively, you might ask friends or relatives in your area for referrals to lenders with whom they’ve had good recent experiences.In either case, or if you’re just responding to an advertisement or telephone directory listing, interview each potential mortgage specialist carefully. Ask every question you have on your mind. Make sure you feel confident that the person you trust with all the intimate details of your financial life is someone who knows what they’re doing, has the willingness to listen to your concerns, and the ability to provide you with the best mortgage program for your needs.
Whichever mortgage specialist you choose to work with, be sure to assemble all your necessary documentation before you make your application. This is the best way to insure a faster and smoother loan process.
One last note: The rate alone should not be the determining factor. Find a mortgage representative who offers the best overall financing package and who will be available to you throughout the process. Your loan may sail through without a hitch, but you want to be prepared to deal with unforeseen problems. Having a good, seasoned, reliable loan originator is your best insurance that you won’t be left "holding the bag" or dealing with people you see you only as the "applicant" on a stack of forms.
(Note: You can click on the "Mortgage Tools" icon in the right hand menu to see a basic mortgage application checklist or use our handy mortgage calculator.)