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mortgage lender: Questions You Should Ask Before Selecting A Mortgage Lender
- 11/16/13 07:26 AM
Before visiting a prospective mortgage lender, it would be a good idea to write down pertinent questions so that you will be able to decide whether or not this lender is appropriate for you. The following are basic queries that are suggested, in one form or another, by most lending institutions.
1. What will my interest rate be?
Although most lenders will charge almost identical rates, they can vary by a wide margin, especially in instances where the borrower does not have a perfect credit history. This question should be at the forefront of everyone’s list.
2. Can I lock in this interest rate?
Most … (4 comments)
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mortgage lender: What is the difference between Mortgage Broker and Mortgage Lender?
- 11/12/13 05:01 AM
Mortgage Brokers act as intermediaries between a prospective borrower and a lending institution. In most states the broker is required to be licensed consistent with the provisions of the Nationwide Mortgage Licensing System and can be liable for fraud during the entire life of the loan.
He is normally paid by the Mortgage Lender for loan applicants with outstanding credit. For applicants with a troubled credit history or other issues which make the borrowing process more difficult, it is customary for the broker to charge extra fees directly to the loan applicant.
There are several advantages for using an experienced mortgage broker. … (2 comments)
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Before visiting a prospective mortgage lender, it would be a good idea to write down pertinent questions so that you will be able to decide whether or not this lender is appropriate for you. The following are basic queries that are suggested, in one form or another, by most lending institutions. 
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