how to choose a mortgage lender
DESCRIPTION
This presentation covers important details on how to choose a mortgage lender. Visit ForeclosureDataBank.com to get further information on foreclosure real estate.TRANSCRIPT
Contents
Introduction………………............……1
Track Record................................…2
Service Levels.....................……..…..2
Lendings Fees.....................……..…..2
Interest Rates.....................……..…..3
How to Choose a MortgageLender
Although the American mortgage industry is very competitive these days, the principle of beware the buyer still applies and cheap is
still seldom best. A wise decision is one that considers all of the following factors, and in a balanced way too.
2
Service Levels Does the lender have an office in your hometown where you can talk to real people not call centers? If they do have one, pop by and try them out for friendly advice like free counseling and educational handouts.
Lending Fees
Higher lending fees mop up the benefits of lower interest rates. Ask probing questions and then ask the lender for a written all-in quote. You will be surprised at what pops out in writing that was not even mentioned at the interview. When this happens, chances are you could be dealing with a cowboy lender.
Any lender who willingly plundered American homeowners before the financial crisis for a cheap buck is definitely a no-no. There are enough responsible corporations out there from which to choose. Googling for “lender name” plus “complaint” picks out the bad ones real quick.
Track Record
3 Interest Rates
After you have identified five lenders that checked out okay so far, you can get down to the serious business of negotiating interest. Do not sniff at an offer of a quarter percent below a lender’s normal rate. It can add up to a handy sum.
Although the Treasury Department does its best to regulate the financial services industry these days, there a smart guys out there, figuring ways to make more money from their customers. That means shopping with your brain switched on, and your radar finely tuned for bargains. After you have made your choice, why not sniff around for a foreclosure bargain at ForeclosureDataBank.com?
Foreclosure DataBank1602 Alton Road #432Miami Beach, FL 33139
1-888-596-9279
The biggest foreclosures database on the web
Find us on the Web:www.ForeclosureDataBank.com