“Most homebuyers spend more time researching their refrigerator than their lender. Then they wonder why closing is a nightmare. And I get it. All I was really concerned about when I purchased my first property was getting approved for the loan. The outcome was horrific. I ended up with a higher interest rate than quoted, terrible pre-closing experience, and added costs that I just assumed were normal. When I was told how much out of pocket expenses I was expected to pay at closing it almost shipwrecked the deal because I didn’t have the funds. Every bit of that chaos was avoidable. Here are the four steps I wish someone had told me:”
Steps to choosing your Mortgage Lender:
- Research & get referrals
- Compare Lenders & Loan Types
- Get Pre-Approved & Compare offers
- Evaluate Service & Communication.
If you do these four things you can make a decisive decision based on information that is directly linked to your best interest and long term plans.
For more detail regarding the 4 Steps listed above got to my blog: https://beforetheclosingtable.com/real-estate-financing-explained/