Selecting a Mortgage Company
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| When it comes to selecting a mortgage company, it pays to do
some shopping around. Some lenders will promise you the lowest rate and others
will swear that their service is heads and shoulders above the rest. Other
people listen to their real estate agents recommendations and go with their
preferred lenders despite the fact that the agent may not care about what rate
their customer is being offered. Some agents truly look out for their clients
and others just want to make sure that the deal gets done no matter what rate
their client pays. Your goal should be to find the right mix of rate, service
and dependability. |
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| Here are some suggestions on choosing a mortgage company and a
mortgage professional:
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Ask your friends and family for referrals for companies that have served them
well
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Call your local bank for a quote and then call several “low rate” lenders and
brokers and make sure that your bank is offering you a reasonable quote. Many
discount lenders and brokers, such as AAXA, do not carry a large overhead and
can pass along savings to their customers
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Request Good Faith Estimates and Truth-In-Lending Statements and be sure to
compare the fees in the “800” section of the Good Faith Estimate and the APR in
the Truth-In-Lending statement
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Ask your Loan Advisors for references
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Verify that the mortgage company guarantees their rates and fees in writing - a
Good Faith Estimate should not be the guarantee because it is simply an
“estimate”
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If you are working with a real estate agent, request a quote from the
professionals that they recommend and then shop around. If you decide to not
use their recommended lenders or brokers, make sure that the agent and the
mortgage company you choose are on the same page. Some companies, such as AAXA,
offer real estate agent tracking tools so that your agent can follow the loan
throughout the process (with your permission).
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Be sure that the company is willing to send you a rate lock confirmation once
you lock your rate
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Trust your gut. If it sounds too good to be true, it probably is.
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Is AAXA the Right Mortgage Loan
Company for You?
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| Possibly. We are certainly not going to be the
perfect fit for everyone but we do conduct business with your interests in
mind. When is comes to low mortgage rates, exceptional service and unparalleled
value, we are hard to beat. Call us today for a free consultation at
877-RATE-LOW (877-728-3569).
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| First
time buyer mortgage |
| Determining
what you are qualified to borrow and getting pre-qualified |
| Rent
Versus Buy |
| Beginner
Mortgage Checklist |
| Credit
Scores and Mortgage Rates |
| Finding
the right real estate agent |
| Should
I consider 100% financing? |
| Pro
& Cons of adjustable rate mortgages |
| What
types of loans are available for the self-employed? |
| Why
do mortgage rates change? |
| What
is a mortgage broker? |