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maria
Guest
0.10 Dollars($)
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 Posted: Wed Jun 28, 2006 3:23 pm Post subject: new buyer |
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As a new buyer I didn't check much and agreed with a loan from the lender referred by my realtor. Now I find that there are many lenders in the market offering much lower rates. Will it be ok if I go with a different company?
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stevenson
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0.10 Dollars($)
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| Posted: Wed Jun 28, 2006 3:29 pm Post subject: |
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You can check with as many lenders as you want and it's wise always to do maximum shopping before you apply.
I don't think you have applied for the mortgage already with that lender and it's perfect time to check your options. |
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 Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1539
Location: MASSACHUSETTS
137.28 Dollars($)
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| Posted: Wed Jun 28, 2006 3:55 pm Post subject: buyer's decision |
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Hi,
You haven't taken the loan yet and there is no reason why you shouldn't check with other companies before you decide on it.
But don't make the judgment based on the rates only. Check the service reputation of the company and the loan costs. May be you find that the lender you are talking about is very efficient with their service and that's something which you can't ignore.
You are going to set a long term with the lender and so you need to judge the institution or the person with whom you are going to have the deal.
Take your time so that you are not into any sorts of trouble in future as you are perhaps going to take the biggest financial decision of your life.
You may go through this section which covers some important points that a borrower should note in choosing a lender. Feel free to ask if you have any further queries.
God bless you.
For MortgageFit,
Samantha
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Know how to compare lenders with mortgage booklet |
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maria
Guest
0.10 Dollars($)
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| Posted: Wed Jun 28, 2006 4:02 pm Post subject: |
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Thanks. I got your point. I will take care of it. 
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant |
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Angel
Guest
0.10 Dollars($)
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| Posted: Wed Jun 28, 2006 4:28 pm Post subject: |
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Hi Maria,
I have seen a lot of people falling in trouble as they don't bother to note the characteristics of the mortgage loan and the lender.
Many are not aware that there loan adjusts or have a pre-payment penalty. You need to go through the loan detail carefully and ensure that you are not missing out on anything.
Mortgage is huge and no single characteristic should be set as a standard to judge a loan or a lender.
Wish you best of Luck.
Angel |
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