I’m thinking of purchasing a home, but there are so many different loan & mortgage companies…how do I choose which is the best? The phone book is filled w/them & I have no time to check w/each of them. Are there any nationwide companies, that are well known to be better to deal with? Thank you for all honest answers.
I just recently bought my house and I have received a bunch of junk mail for all kinds of home insurances. I also received this one letter from a company called Nationwide Bi-weekly Administration, they brag about been talked about on CNN, The Wall Street and Oprah. They are interestminimizer. Just wondering if anyone has used their services, the way it’s broken down to you on the letter makes a lot of sense, but I need to do a little research to make sure is not a scam.
Thanks for your time
hhoose a mortgage lender and loan officer with the same care and research you’d use when choosing a doctor or a care provider for a child.
This is going to be the biggest financial commitment you have made to date, it will pay you in the long run to choose someone who truly cares more about finding you the right home loan than about how much commission they are going to make on your loan.
I have been both a mortgage broker and a mortgage banker and, in my experience, you will get better service, more education, and a wider selection of first time buyer options from a mortgage bank as they are more interested in developing a continuing relationship and less concerned about how much they profit on this one transaction.
The right loan officer will spend a lot of time with you, finding out about your short and long term goals as well as your current needs in order to explain all of your options and what they mean so that you may make informed choices. It is, after all, your loan.
I have some information I can email you that I developed for a first time buyer class I led. It will help you understand some of the terminology and the process so that you will have a start on knowing what kinds of questions to ask.
Feel free to email me directly so that I may send it back to you as an attachment. I am Happy to be a resource for you.
you can go to your bank or if you have any problem with credit before and you want to shop around for the best rate contact a mortgage broker. like my self , i am working with Centum Financial group. it is well known for its reputation.
I always recommend my clients speak to at least three, and as many as they can find time for.
I hope you’ll use an attorney, so you can ask them what all the stuff they’re going to throw at you means.
Bear in mind that the Lender is not on your side any more than the Seller is. They want to see the transaction go through, but for their own reasons. Your attorney is on your side.
There are a myriad of lenders out there. The best thing to do is find a reliable mortgage broker that’s set up with 100+ lenders. They’ll be able to shop your loan with those lenders to get you the best terms.
My name is Mr Paul Walters and i am a private money lender that renders financial assistance to those in need of loans at an interest rate of 3% thus if you are in dire need of a loan, contact us via email@example.com
NOTE: THIS OFFER IS OPENED TO ALL!!!
Oh, everyone gets these – just throw them away.
Anytime you get a bit of extra cash – just make an extra payment yourself.
Why pay a company hundreds of dollars a year to do this for you?
Insane isn’t it? Yet people still do it.
Before you start paying down your mortgage make sure you have at least 6 months worth of living expenses in a savings account or in investments.
Also consider paying off your car and any credit card debt in full you have.
I got those. Whenever I had a bit of extra cash, you just mail them a check with a note
“payment towards principal”
This gives YOU ultimate control on how you want to pay your mortgage off faster.
They are somewhat legit. But the services they offer aren’t anything you can’t do on your own. With a “bi-weekly” plan, all they are doing is making additional principle payments on your behalf, so that you are making 13 mortgage payments in a year, and the additional payment goes directly to your principle. Almost every single mortgage loan company has a servicing website. On this website, you can make your own payments, including additional payments to your principle directly. If you want to start doing this yourself, take your current payment (lets say $ 1000 per month), multiply by 13, and divide by 12. This will be your new payment amount each month. Just make sure that you are applying the additional to your principle, and not to the interest, or into your escrows account (if applicable).