If you have decided to take the leap into home ownership or you are interested in refinancing your current mortgage, one of the first things you will need to do is track down a mortgage.
I honestly cant tell you just how many mortgage companies there are in the United States, but I can tell you this, there are a lot of them.
Mortgage companies also come in a few different forms. You might recognize one as your local bank, but there are also wholesale lenders who use not only there own loan officers to originate mortgages, they will also use mortgage brokers. Than you have your retail lenders, who use only their own employed loan officers.
Because there are so many mortgage companies out there, the industry has become highly competitive.
So before you commit to the first lender you approach and start filling out applications, look again, and consider shopping around. Like I said, the mortgage industry is highly competitive, so let them fight over you.
You dont have to go crazy when shopping for a lender. No more than five inquiries should be your limit. Talk with them, find out what programs they have to offer, and at what rate. Ask about...
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