HERE'S THE INSIDE SCOOP ON HOW TO DO IT RIGHT!

First:  make sure you are working with an experienced, professional loan officer.  The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you properly and troubleshooting the issues that may arise along the way.  But how can you tell?

Four Simple Questions Your Lender Absolutely Must Be Able To Answer Correctly.  If They Do Not Know The Answers…
RUN… DON'T WALK… RUN… TO A LENDER THAT DOES!

1)  What are mortgage interest rates based on?
The only correct answer is Mortgage Backed Securities or Mortgage Bonds, NOT the 10-year Treasury Note.  While the 10-year Treasury Note sometimes trends in the same direction as Mortgage Bonds, it is not unusual to see them move in completely opposite directions.  DO NOT work with a lender who has their eyes on the wrong indicators.

Be smart… Ask questions… Get answers!

More than likely, this is one of the largest and most important financial transactions you will ever make.  You might do this only four or five times in your entire life… but we do this every single day.  It's your home and your future.  It's our profession and our passion.  We're ready to work for your best interest.

Once you are satisfied that you are working with a top-quality professional mortgage advisor, here are the rules and secrets you must know to “shop” effectively.

1)  IF IT SEEMS TO GOOD TO BE TRUE, IT PROBABLY IS.
But you didn't really need us to tell you that, did you?  Mortgage money and interest rates all come from the same places, and if something sounds really unbelievable, better ask a few more questions and find the hook.  Is there a prepayment penalty?  If the rate seems incredible, are there extra fees?  What is the length of the lock-in?  If fees are discounted, is it built into a higher interest rate?