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Knowledge Base->Mortgage Lender->How to find a good mortgage lender

      The importance of choosing a good mortgage lender is a point which cannot be overstated. Just as choosing the proper loan program is essential to your financial well-being, selecting a good lender can go a long way toward saving you thousands of dollars and untold hours of anxiety.
      The following are some tips to find a good mortgage lender:MortgageLender101.gif
  1. Get information from agentgather or friends who have purchased a home. Observe individual experiences, both positive and negative.
  2. Talk with your Realtor. Chances are a Realtor has pretty thorough knowledge of the mortgage lenders working in the area. They have heard the good and bad stories from clients. Often they can refer home buyers to a good lender.
  3. Interview your mortgage lenders, explain your situation and ask their questions such as which mortgage loan type is better for you, how is current market, how long to process the loan and the most important: what is the best APR he/she can give you.
  4. Eliminate any lenders who do not meet your requirements.
  5. Eliminate any lenders who give you an unbelievable APR quote (Generally speaking, too good to be true).
  6. In some cases, mortgage lenders have their own attorney and cover the legal fee. Be sure to ask the question related with attorney.

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