Mortgage Lenders and Home Loans

Mortgage Lenders and Home Loans

When you’re buying a home, you’ll most likely need financing and as with anything you buy, it’s wise to shop around for the right one. You probably wouldn’t buy the very first house you looked at; you’d look around at others to compare and see what’s available. In the same vein, you should shop around for the right mortgage lender. Talk to at least three or four lenders. Remember: the best lender may not always have the best interest rate or get you the lowest payment. For example, if one of your needs was to save money by paying less in interest over the long term, you might choose a 15-year mortgage with a higher rate rather than a 30-year mortgage with a lower rate. A good mortgage lender will: Ask lots of questions about your personal financial situation Be readily available to answer any and all questions you have Be committed to finding the most appropriate loan for you, not getting you into a “one size fits all” type of loan Never ask you to do anything that you feel uncomfortable with Return your calls and emails promptly Tips on Finding a Lender: Ask your friends and family which lenders they’ve used and what their experiences were like with their mortgage lenders. Find out who they would recommend. Do your research. An easy way to research many mortgage companies is to go online; there are more lenders at your fingertips than you can count. Visit each lender’s Web site…

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