SHOPPING FOR A MORTGAGE:
If you plan to be brave and venture into
the wide open world of mortgages "all alone", there are some critically
important steps you should take. At For Buyers Only
Realty, we do most of this work for
you. However, so you'll either know "what to do", or, "What we do FOR
you, here is a good starting point.
should plan to contact several mortgage lenders, including the lender to whom you
presently make your payments (if applicable), to discuss the mortgages they have
available, their rates, closing costs, and other fees. A good place to start is in the
real estate section of your local newspaper. You can also look for the names of lenders in
the yellow pages of your phone book under "Mortgages." Mortgages are
available from mortgage companies, savings and loan associations, banks, federal credit
unions, and other financial institutions.
Because there are so many variables, you'll need a
systematic approach. On the next page, we'll review a
sample system that you might want to follow.