Homethinking

Unfortunately there is a lender on each corner it seems like these days. What most people don't know is that there are no real requirements to become a "mortgage broker" ... What they do is originate loans and charge whatever they want to do this... Watch out for lenders that don't give you all the information up front, like the interest rate, closing costs, and what their fee is. My best advice for someone who is looking for a lender is to find a good realtor and ask them for advice on lenders in your area. Since there are so many, you really need someone with firsthand knowledge of a lender's policies, practices, etc. You want to find a lender that you can talk to easily, that will call you back, and keep your agent informed at all times. Hope this helps, if you need more info please feel free to contact me at 479-238-4371 lesliecrawford@connectionsrealestate.net

Answered by Leslie Crawford :: on Mar 08 2007

Review the answers below but also be cautious. Lenders pull your credit and if done too often, this could effect your credit score. I would also stay away from certain online webistes that claim to be able to get you a mortgage, I had one client that had her credit pulled 64 times and had to wait 6 months until she could qualify again.

Answered by Julia Malik :: on May 11 2007

Getting quotes from various lenders can save you a lot of money. Not only can interest rates vary widely from one lender to the next, but also "Junk Fees" can be high or low. Junk Fees are miscellaneous fees a lender charges to make a profit on your loan. They can be in the form of origination fees, application fees, underwriting fees, processing fees, etc. It is best to get a Good Faith Estimate (GFE) from any lender you are considering for your loan to determine the kinds of fees, rates, plans they are putting you in so there are no surprises when you go to closde on the loan.

Answered by Mike Foulds :: on Mar 14 2007

Call Me! I would be glad to discuss this topic with you personally!

Answered by Albert Leskovar :: on Mar 13 2007

Ask friends or your Realtor for a referral.

Answered by Andrea Webb :: on Mar 13 2007