How to Find Out
Best Mortgage Lenders www.webuyclthomes.com
To get a jumpstart in mortgage loan process use these five tips to find out the best lender for you: www.webuyclthomes.com
GET YOUR CREDIT SCORE IN SHAPE
• A low credit score signals that lending to you is risky. • To build your credit score, first make sure your credit reports are accurate and free of errors. www.webuyclthomes.com
KNOW THE LENDING LANDSCAPE
The most common types of lenders you'll choose from: • Credit unions • Mortgage bankers • Correspondent lenders • Savings and loans • Mutual savings banks www.webuyclthomes.com
COMPARE RATES FROM SEVERAL MORTGAGE LENDERS
Compare mortgage rates from: • Neighborhood Banks • Big Commercial Banks • Credit Unions • Online Mortgage Lenders www.webuyclthomes.com
GET PRE APPROVED
• • • •
Check with following things for getting pre-approved. Social Security numbers for yourself and any co-borrowers. Bank, savings, checking, investment account information. Two years of tax returns, W-23 and 10993. www.webuyclthomes.com
GET PRE APPROVED
• Outstanding debt obligations, including credit card, car loan, student loan and other balances. • Salary and employer information. • Information about how much of a down payment you can make, and where the money is coming from. www.webuyclthomes.com
ASK RIGHT QUESTIONS and READ THE FINE PRINT
• Ask Below Questions To Yourself & Check The Things. • How do you prefer to communicate with clients - email, text, or in person? How quickly do you respond to messages? • How long are your turnaround times on pre approval, appraisal and closing?www.webuyclthomes.com
ASK RIGHT QUESTIONS and READ THE FINE PRINT
• What lender fees will I be responsible for at closing? (Fees may include commission, loan origination, points, appraisal, credit report and application fees.) • Will you waive any of these fees or roll them into my mortgage? • What are the down payment requirements? www.webuyclthomes.com
www.webuyclthomes.com