-How long have you been originating mortgages?-Are you willing to give me client testimonials?-Do you feel that your rates are competitive?-Who are the lenders you work with?-What is the current length of time it takes to complete the mortgage process with your company?-Who underwrites your loans? Then, get the rate quote!
What are the closing costs, a round about rate, length of underwriting to close. Feel free to contact me, I can help you with your financing in WA. We are a non-profit which enable us to keep our rates and fees low. P: 888-320-7888 - www.MortgagesforAmerica.org - Ken Burrows
The most important thing is for you to know what you are looking to do and set some financial goals and a budget. Shopping for a mortgage should be the easier part of the process.
What type of programs do you offer? What is the average time frame for closing a loan? Will this cost me anything out of pocket?
What are the total cost? How long is your process from start to finish. What is my total payment principal,interest, taxes and insurance? What is my out of pocket expenses? What does my value need to be to make my loan work? Other than that the right person will walk you through any possible unknowns.
You should ask what their qualifications are first and foremost, including whether or not they have passed national and state tests. Once you are satisfied with those a good loan officer should ask you many questions to get to know you and what your goals are. I would ask them why they do what they do for a living, it usually throws them off and their answer, or how they answer can be some good insight for you. You should definitely speak with at least two to three mortgage professionals. You will probably want to know how long the process will take, what their rates are, if they charge an application fee, processing fee, administration fee or commitment fee.
If you're applying for a mortgage, you most likely have a good idea of what you're trying to accomplish and if not then explain what you are looking for and ask them to explain all sorts of different options in order to find out what fits best for you. You'll want to know the total costs of each loan and have your lender walk you through those costs so as not to find any surprises in the end. Ask about the turn times, the overall process and if there's anything you don't understand then ask and ask again. Ask your lender why you should choose them and what sets them apart from the many other options that are out there. You'll know when you find someone you connect with and someone you can trust. Good luck!
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