A very important part of purchasing a home is finding the right lender.  Listed below are questions to ask while shopping for a lender and characteristics you should look for when choosing a lender, as well as, what not to do when shopping for a lender.

 

QUESTIONS TO ASK WHILE SHOPPING FOR YOUR LENDER...

• What is his or her reputation within the community?  How many loans do they come each year?

• Is the company well known in the area?  How long has the company been in the business?

• Is the lender a mortgage broker?  Does the lender have access to a wide variety of loan packages?

• Can the interest rates be locked in and for how long?

 

WHAT NOT TO DO WHEN SHOPPING FOR YOUR LENDER...

Once the offer is accepted and sighed by all parties the buyers real estate professional will open escrow and the earnest money will get deposited into an escrow account.  All funds associated with the transaction will be handled through escrow.