SELECTING A LENDER

Michael Holigan: There are dozens, perhaps hundreds of lenders to choose from in your area. They want your business perhaps as much as you want a new home. Stephanie Boswell and her family of four not only found a lender they could easily work with, they found a good deal. All they had to do was shop around.

Stephanie Boswell: If one was gonna give us a break in this area, we’d go to the other one and say Hey, can you do this?, and as a result, we were able to get a pretty good deal from the mortgage companies. And they will work with you. We found that if you have a good credit that they’ll work with you and they’re looking for customers that have good credit and as a result I think we got a pretty good deal.

M.H.: There’s more to choosing a lender than points and interest rates. You need one that can put you at ease and make it as smooth as possible. Remember, you’re about to make a huge financial commitment. It can be very confusing and the questions can be very personal. To find good lenders, talk to other professionals in the business, like Realtors or builders. Family, friends and neighbors can also help by giving you referrals. Once you’ve found some names, call these people on the phone. If you like what you hear, make an appointment and visit with them. That’s exactly what the Boswell family did.

S.B.: We talked to people in the area. We talked to Realtors, the Realtor that we were working with here, and asked them who they used. Out of that we picked three that we had heard good things about and started dealing with them.

M.H.: Shopping around will get you a lower interest rate, but there are other things to consider. Find a lender you can trust, someone who will explain in understandable terms what you need to know and someone who will put things in writing. Buying a home can be frightening, but a good loan officer can keep you from getting lost in the system. Low interest rates are important, but so is a smooth, hassle-free experience.

 

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Episode 27 1996 - 97 Season

| Kitchen Trends | Vinegar/Showerhead | Reading Floor Plans | Toilet Repair | Modern Kitchen | Sponge Picture Frame | Selecting A Lender |

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