Choosing a mortgage lender...?
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I inquired about a specific condo through Prudential realty, and was referred to a lender they do business with. Problem is, these guys are small. Their web site (www.cthm.com) looks amateurish. Should I be worried that these guys will go out of business after I get a loan from them? What should I look for in a mortgage lender?
Choosing a mortgage lender...?The guy they referred you to, probably is a mortgage broker. I dont think Prudential loans there own money. So what this means, the person they are working with will take your details, call 5-10 different banks and place it with the best one. What you want to watch out for is a guy who became very comfortable with one lender and no longer shops around on your behalf. Make sure the GFE makes sense, and keep in mind if they come in a little high, you may still want to use them, because they work with your real estate agent- better communication.
Any more specifics, feel free to chat cjkloanguy@yahoo.com
Choosing a mortgage lender...?it doesnt really matter because 9 chances out of 10 they are going to sell your loan once you close usually within 6-8 weeks after you close to a bigger company this is how they make money
Choosing a mortgage lender...?Stop in various banks and get their rates and fees, and compare. IT doesnt really matter who you put it thoru
Choosing a mortgage lender...?Best advice we got when it came to purchasing our first home was to go to a Mortgage Broker not a lender. It is their job to find you the best interest rate and lender there is. It is how they stay in business it is also up to the Mortgage Lender to pay their fees.
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