Finding the Right Lender
When buying a home, having the right lender can make a big difference. Many home shoppers use a lender based on a recommendation from a friend or real estate agent and don’t bother shopping around. But that won’t guarantee you’ll get the best rate or get the best service. If you need a loan, it’s best to compare rates from at least three different lenders to find the best loan for you.
Finding a mortgage lender involves more than just getting a good interest rate; you want to work with the best mortgage companies that are staffed by professionals who will guide you through the process. You’ll also want to get your credit score in shape; the higher your credit score the more bargaining power you’ll have. Along with that, you’ll want to get pre-approved for your mortgage in order to boost your chances of having your offer accepted. Finally, make sure that you ask the right questions and read the fine print. Find out about requirements and fees, including costs beyond principal and interest payments.