Buying a house can be a daunting task. A mortgage broker can help. They are the professionals that match your needs with a home loan from a selection of lenders. But, it’s important to choose the right lender. Choose one who is knowledgeable, accredited, and has proven results.
Start by asking someone you know that has recently secured a mortgage. Ask if they can recommend their lender. Ask a financial adviser, an accountant, your attorney or your realtor to help you with a list of lender referrals. These people deal with mortgage lenders regularly and can help you filter the lender pool with an air of expertise that will add real confidence to your decision.
Search the internet and investigate offerings for details. Advertising is shiny, so squint through the glare to focus on any info about fees, lock-in periods, points and qualification requirements for what is being featured. Ask what deals mortgage brokers have to offer. If a mortgage broker offers you a special deal, ask about the special conditions. There is usually a catch. And again, they have to get you to call somehow, so the lower the rate, typically the more people that will call, but fair warning, it’s not all about rate, service is just as important!
Make sure you feel confident about the person who is helping you with your mortgage. Google their name, and their company. See what other people are saying about them. If there is nothing being said, that may mean that they lack the experience that is required to guide you through such a detailed transaction. Go with your gut. If something doesn’t feel right, chances are it isn’t.
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