So, you0re about to get a mortgage? Take a deep breath. Prepare to spend a little bit of time doing your homework. Three or four hours of effort may end up saving you thousands of dollars now, and tens of thousands of dollars over time. Home financing can be intimidating, but it0s not rocket science. A few basic considerations can make a world of difference.
Let’s get started
Educate yourself. Get several quotes. Mortgage brokers will generally offer a better deal than a bank, but it doesn0t hurt to call a bank or two for comparison as well. A good loan originator will spend as much time with you on the phone as you need. And a truly professional loan originator will ask enough questions to understand your goals. If you don0t feel good about a conversation, trust your instinct; cross them off your list and move on.
Get everything in writing
Make sure to ask for Good Faith Estimates. There can be quite a few costs associated with getting a mortgage. You want to see every one. Comparing Good Faith Estimates can be challenging because different mortgage lenders often use different terminology. Don0t let that stop you. It0s also a good idea to […]

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