Top 7 Steps To Take When Choosing A Home Loan
Your home loan is almost as important as the home you choose. Small changes on paper % here, % there can mean BIG changes to your monthly payment, and thousands of dollars over the lifetime of your loan. Today, it seems as though there are thousands of mortgage brokers & lenders in every market and there are! Unless your brother, sister, Dad, or best friend are a mortgage broker (and sometimes even when they are) your lender might not always be the most competent, or have your best interests in mind. Here are 7 easy steps to take when looking for a home loan.
1) It Pays to Shop!
There are thousands of mortgage brokers in any market, and hundreds of loan programs that each broker will usually have access to. Each loan program fills a niche a special financial situation that you may or may not belong to. High credit score with no verifiable income, mediocre credit score with verifiable income, high credit score without rental history, etc The list goes on and on! You need to make sure that you find a mortgage broker who knows their loan programs, and can find you the best program that matches your unique...