Real Estate 101
Financing
Most all of us will need to finance our home purchase. A very important part of purchasing a home is finding the right lender for you. Here we present some characteristics which you should look for when choosing and evaluating a lender. Remember that not only is the lender going to require a pre-qualification process from you before authorizing a mortgage loan — but also that this is a two-way street, and that you will be evaluating the lender to determine if they are the best source for your business. There are also a few things you should be aware of concerning lenders, and we tell you what to look out for. Questions you should ask or consider when shopping for a lender:
- What is his/her reputation within the community?
- Approximately how many loans do they close each year?
- Is the company well known in the area and in the real estate community?
- How long has the company been in business?
- Does the lender have access to a wide variety of loan packages?
- Can the interest rates be locked in, and for how long?
A few things to be aware of when shopping for a lender:
- Quoted rates over the phone are rarely locked-in prices. This is one
way the lender gets you to come to his office. Rates can be subject
to changes unless they are predetermined for a specific period of time.
- Interest rates can (and often will) change daily. A quote you get today may not be available to you at the same price tomorrow.
- The interest rate you are quoted over the phone may not be a program that will fit your needs or situation.
- Many lenders will discount their posted rates for well qualified customers.
Please call or with any questions you may have and we will do our very best to serve you. Thanks for visiting our site and we hope to hear from you so that we can work together to find you your dream property.
 
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