Choosing a Lender

Choosing a mortgage lender is one of the most important things that you will have to do when financing your home. It can be a difficult task to find a lender that is right for you, so when choosing a mortgage lender you should have patience, and maintain your high standards. You should always comparison shop when it comes to such a major decision.

Remember to think about more than just your finances – you are entering into a long term relationship, after all. You can ask your family and friends for recommendations. Anyone you know who might have recently bought a house or refinanced one can help you find a lender that is right for you by telling you what they came across while they were in the market for a lender. Comparison shopping is a must when finding a mortgage lender. A few tenths of a percent on your mortgage interest rate can make a huge difference on your monthly payment and especially on the amount you will end up paying for your house.

You should also consider your potential relationship with the lender. How is their customer service? What are their hours? Do they have a presence in your area? How long have they been in business? These are factors that can help you determine if these are people you want to do business with. Ultimately the decision is up to you and you don’t want to potentially enter into a long term contract with someone who you can’t deal with on a day to day basis.

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