Mortgage Pitfalls

Before you go on the internet to look for financing consider this. If there are problems, who or what will you be dealing with? Will you get the same accountability that you would have with a local person that you can meet and know personally?

Or maybe you think the best way to pick a lender is to call around for the lowest rate. You might be surprised to know that many lenders raise your closing costs to compensate for the lower rate. You could get an unpleasant surprise at closing by looking only at the rate. And that doesn't even address the differences in service between loan officers. 

I run into this problem all the time. Put yourself in this scenario as the buyer. The lender promises to deliver the loan by the closing date you have negotiated and when the time comes, they are still scrambling to get your loan approved. The sellers are upset, your contract is in jeopardy and your plans are on hold. Not to mention that moving truck that is parked outside your door.

To keep this from becoming your story, choose your lender carefully. Of course, one of the services I provide is to connect buyers with reliable lenders. Call me today for a recommendation based upon your particular set of circumstances.

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