Mortgage in Real Estate

Mortgage Side of Real Estate
Mortgage side of the real estate transaction is critical to home ownership. I see many people going to the internet for rate comparison and information. I am very internet savoy and use it as a tool but I would strongly suggest not make it the only tool. I have many clients that use the mortgage person that their friend or family used, due to the customer service, or a particular loan programs for that buyer. That is a very good way to do it too, but not always the best avenue since that person used that used that mortgage professional for a certain reason that might not fit for your specific needs. What I do suggest is talk to several persons for ideas and suggestions since their are 1,000's of mortgage loan types and finding the one that fits you might take a professional to find. But be careful if you talk to 2 persons, and if rate is an issue then get those rates from the Mortgage professional on the same day so you can compare apples to apples. Things that are important when talking to a mortgage professional1- Rate2- Down Payment required by lender3- Closing Cost ( request a good faith estimate) 4- Type of Mortgage5- Early Payment penalties or change in interest rate