People are often told where to get their mortgage since they do not know loan officers or correspondents personally. (the same thing). It used to be agents would take their buyers out to find the house they wanted, then to their favorite mortgage company. Many things are better organized and much faster. A common practice to now have purchasers get pre-qualified and pre-approved before looking for a new home. Most agents don’t know much about finance, they leave it to the mortgage company to explain it.
Probably the most important thing is comparing. It is nor understandable unless it is a young person. People usually compare things like cars, gas, and food. It is wise to check the APR or annual percentage rate as well as the interest rate. What this does and take the mortgage company’s charges and breaks it down into a rate, many times it is publish in the newspaper. For example, 5.49% verses 6.11% sounds like a lot to me!

There are many options for financing available. This is something your agent should be well aware of as well as the mortgage company. I remember a time I was working with a young couple. I knew the best loan for them was a combination of FHA and a state subsidized loan. That gave them a low interest and down payment. Some people at a well know world wide mortgage company told me I could do that, I replied, here are the numbers.It came as a surprise to me. The couple got the financing and did get the house. Please tell your friends and rate this..

More to come later: http://www.freewebs.com/realestatenews.