I wrote a four-part series about how to get a home loan:
Neatness Counts discusses how a borrower should compile their credit and income package before calling originators.
Shop for Originators; not Home Loans
Shop for Originators gives the consumer eight sources for finding loan originators
The Seven Questions an Originator MUST be able to Answer
Seven Questions separates the wheat from the chaff and tell you how to know if your dealing with a pro.
Loving Your Home Loan discusses how to negotiate pricing with an originator, the concept of transparency in fees (including the yield spread premium), and how to pit the originators against each other to insure you get the best price and terms.
The overall idea of the series is to better prepare the borrower so that their loan transaction runs smoothly. If the borrower does their preparation carefully, they can get a great home loan at a fair price It's my opinion that a better educated consumer is a more profitable one. The more they know about the loan process frees an originator up to concentrate on making a loan recommendations that areconsistent with the borrower's long-term goals.
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