CHOOSING THE RIGHT LENDER

Michael Holigan: Choosing the right lender is an important decision. And if you do well when you pick the lender you can save thousands and thousands of dollars. You just need to know where to look. When Elaine Laisure went mortgage shopping she was armed with information.

Elaine Laisure: I went out to the Internet and searched all over the lenders and the prices and the rates.

MH: And for all her research she was richly rewarded.

EL: And he saved me thousands of dollars on closing costs.

MH: When you look for a lender compare interest rates, origination fees, application fees and any other fees a particular lender charges. Ask your realtor for a recommendation. Although realtors are often an excellent resource, understand you're not obligated to use the person the realtor suggests. Ask your banker, but don't feel you have to put all your eggs in one basket. And don't forget your friends. They're often the best resource.

EL: Friends are a great place to network.

MH: Elaine's ultimate decision led to an enormous payoff. Elaine saved $4,000 by going with a loan officer she found instead of the lender her realtor suggested.

EL: It was well worth the time and it doesn't take that much time. Knowing I saved that money just feels wonderful.

MH: If you're interested in finding a good quality lender plan ahead because the research process can take time, but as you saw with Elaine you can save thousands of dollars.

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Episode 68 1997 - 98 Season

| Termites | Cleaning Microwave Oven | Double-Paned Windows | Ironing Center | Choosing a Lender | Pet Repellant |