Mortgage Lenders

The Choice of What Company Gets Your $$$$$$$!
The average consumer makes no larger investment than the home that they purchase. This is a general fact that everyone should know. Hopefully today's home buyer is a bit more educated than many were years ago thanks to the internet and ease of gathering info 24/7. That is one of my purposes for this site. To help show where I gathered info from, what we go through in this process and the lessons we learn.

In this process for us, since it is a LARGE task, I kind of divided things into two areas. 1) Dealing with the Bank/Mortgage Company, and 2) Finding/Dealing with House/Realtor. The #1 job I assigned to my husband and I took the #2 job. Now understand that we both still function with equal say in both areas, but there is so much to handle that for us, it was much better to "divide and conquer." All the experts say to "shop interest rates" and they explain what you are looking for. We had decided ahead of time that we were only interested in FIXED rate mortgage and did our research to get an understanding of what POINTS were and what were the pros and cons in that area. We also made a decision that we wanted to try to use as little money as possible for a down payment in order to preserve our savings and still allow some money for emergencies. (In other words, we didn't want to spend every nickle we had to get into the house we purchased) We set a limit on what our monthly payment would be, and we stuck to this limit. We didn't go in saying "How much house can we buy?" We felt that this would better enable us to have the spending money we wanted to enjoy the home and do the "projects" we were seeking. All too often, home buyers will get a mortgage that straps them so bad that they have no money left to even buy curtains to cover their new windows much less anything else.

Despite my objections, the mortgage company was selected by my husband. I still withhold judgement at this point because so far....I have actually seen nothing but TYPICAL performance. The clock is ticking....

Will it happen?