On Line Shopper for Discount Loans:
A very important part of purchasing a home is finding the right lender. Listed below are some characteristics you should look for when choosing a lender. Also things you should not do when choosing a lender.
Questions to ask while shopping for your lender: Is the company well known, how long have they been in business? What is their reputation, how many loans do they close each year? Does the lender have access to a wide variety of loan packages? Can interest rates be locked in and for how long? Here is a good one…During the conversation with a loan officer does
he/she ever ask you "How Long You Plan On Living At, Or Owning
The Property"? This is an indispensable question that must be
asked by the loan officer in order for them to fit you into the best
possible loan! DO NOT MAKE YOUR DECISION SOLELY ON RATES QUOTED
OVER THE PHONE. Quoted rates over the phone are rarely locked
prices. This is one way some lenders get you to come into the office.
Rates can be subject to change unless they are predetermined for a
specific period of time. Interest rates change daily. A quote you get
today may not be the same price you get tomorrow. Interest rates
quoted over the phone may not be a program that will fit your needs or situation.
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