Question:

How to find a mortgage lender in my area?

Answer:

Wherever you live, the way to find a mortgage lender is one and the same. Use online sources, watch for building signs and use referrals.

Also, if you are looking for a government established loan - Fannie Mae, FHA, VA, etc, - the official websites of the respective mortgage programs are a good place to start.

Mortgage lenders commercials are everywhere, so you'll have no problem locating one. Rather, how do you choose a mortgage lender once you find some?

How do I know if a mortgage lender is trustworthy?

Well, another way to find a mortgage lender you could trust is to look for an Upfront Mortgage Lender (UML) online. Since the Internet is the place where mortgage loans are shopped nowadays, most important criteria about lenders are to provide enough information to borrowers so that they could make an informed decision.

Going through a loan officer online doesn't work; collecting personal data also disqualifies the lender; rates for particular credit scores and financial circumstances need to be provided. If you found a UML site, you will be able to determine the terms of your loan without much hassle.

A reliable mortgage lender will disclose most loan details:

  • Third party fees;
  • ARM loans rates, margin, caps, minimum and maximum rates, etc;
  • Mortgage insurance;
  • Points and rates combinations;
  • Credit score requirements, etc.
Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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