Picking the best lender is an important decision when purchasing a home. Choosing the best candidate for the mortgage is something most buyers don’t give too much thought about.
However, picking the best lender is a critical aspect of buying a home.
It is worth your time to carefully consider and compare mortgage lenders before deciding who you want to borrow money from. The effort you put into the process will most likely save you considerable money and hassle over your mortgage term.
One of the things that many naive home buyers do is go to their bank. The problem with doing this is your bank can only offer you one product – their product.
The best deals are found when you have a mortgage broker. A mortgage broker will seek out the best lender for your specific needs and goals. For example, do you want the best term with a low prepayment penalty in case you decide to sell?
A mortgage broker can find the most appropriate lender who has the best rate and terms for that specific mortgage.
By not doing your homework, it’s easy to get lousy mortgage terms that you later regret. Let me do your homework for you. I can shop the 20+ lenders I work with that are all competing for your business.