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We want a pre-approval letter, do we have to stay with the same mortgage company after we get the letter or can we switch? How do we know who to pick? You can’t know a person just from talking to them once on the phone!
I know that but what do you ask them to find out if they’re the right ones???????
the one we are thinking about is with century mortgage. any experience with them?

3 Thoughts on how do you know you’re getting the best deal on your mortgage when you go to buy a home?
  1. Reply
    Emily
    November 6, 2011 at 10:58 am

    You have to shop around just as you would for anything.

  2. Reply
    cgZeox
    November 6, 2011 at 11:41 am

    You can get the pre-approval and then go to whichever bank you would like. You can ask your realtor for their advice or contacts for mortgages. Check out a few banks and don’t feel weird asking for lower rates! Banks are a little flexible and will usually work with you.

    My mortgage consultant is with Wells Fargo and I love them!

  3. Reply
    patticharron
    November 6, 2011 at 12:01 pm

    Rely on your real estate agent to help you find the best deal. That’s his (her) job. Mortgage companies routinely rely on agents to get the word about current rates, customer service, etc. Often the best mortgage rates come from a lender that you don’t routinely hear about (because advertising costs the big guys to get the word out; e.g. Countrywide).

    If you get a pre-approval letter, you are not obligated to that lender. Do keep in mind, however, that every time you apply for a mortgage, it is reported to your credit and affects your credit rating overall. Narrow the possibilities before you start applying.

    Good luck and happy home buying!

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