Choose Your
Lender Wisely
Remember
that cheaper does not always mean better. If a mortgage
product seems too good to be true, than it just may be.
There
are literally thousands of mortgage lenders throughout the United States,
and the mortgage industry is very competitive. So when you begin to shop
around, proceed with caution.
The
refinance
boom of the late 1990's attracted a lot of people into the mortgage industry.
It is for this reason, that many of the loan
officers you may be dealing with are lacking in experience. This inexperience
may cause them to offer you a product that they will be unable to follow
through with.
When
I was originating
loans, I dealt with many a customer who told me their horror story of
going to closing, and finding that their dream of buying a new home had
turned into a nightmare, because the loan never made it to the table.
For
these reasons, and these reasons alone, I continue to stress the importance
of educating yourself.
The
more you know about the industry, the better off you will be. Do not rush
into buying
a home, take all the time you need to educate yourself.
And
don’t forget to shop around, just make sure that everything you
are told verbally, you have verified in writing,
otherwise it is all worthless. Once you receive it in writing, be sure
to go over it with a fine tooth comb.
Using
a Mortgage Broker
What
a Broker Does
Doing
Your Mortgage Homework
Don't
Let Bad Credit Stop You
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