Choosing a Mortgage Lender


I can not stress how important choosing the right lender can be. It can save you a lot of
stress and money.  Lowest interest rate does not necessarily mean best deal for the
borrower.  First of all, what is the lender charging you for the rate he or she is quoting
you?  Are you paying points, or maybe points and a loan origination fee?  If so the rate
quoted is actually higher when the points and loan origination fee are added to the real
cost of the loan.  So always ask the loan officer to quote you the current rate with no
discount points or loan origination fee.  That way regardless of who you talk to it will be
an apples to apples comparison.  Always ask for a "Good Faith Estimate"and a "Truth in
Lending Disclosure."  Each of these reveal what the buyer can be expected to pay as a
part of their Closing Costs and Pre-paids.  As your agent you can have them faxed
directly to me and I will discuss the charges with you and give you my opinion.
Other factors which I feel are very important.  1.  Does the lender have in house
approval for your loan?  In other words are the documents sent somewhere else for
final approval? This can be a nightmare for the borrower because of all the
documentation involved in a home loan.  2.  Does the lender have in house underwriting
or is the paperwork sent out for final approval?  I have seen buyers wait for hours at the
Title Company  while funds are wire transferred. Sometimes it even takes several days
due to foul ups in document preparation etc.  In House is Better,  Much Better
If you would like to find out how much home you can afford, why not give Countrywide
Home Loans an opportunity to earn your business.  I have worked with them for years
and they have my seal of approval. I accept no compensation from Countrywide other
than excellent service.  Their fees are much lower than many other lenders.

If you would like to speak with me in person feel free to call me @214-734-7699.
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