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					How To Choose A Mortgage Lender
• Are you a first time home buyer?
• Do you find it difficult to choose a lender?
• Are you confused about how and where to start ?

Don’t worry!We have the answers to your queries.
       Mortgage Industry

       •   Mortgage industry is very competitive. There are a plenty of
           small and big lenders operating in it.

       •   Mortgage industry is highly regulated by federal laws, few
           federal enforcement agencies and by many states laws.

       •   Mortgage lenders may also be affiliated with state or federal
           agencies that provide funds or guarantee real estate loans such
           as HUD and Freddy Mac.
    Lender Deciding Factors

 To guide the first-time home buyers we have drafted six factors they must look in a mortgage

           1   Reputation/ Track record

           2   Service

           3   Lender fees

           4   Closing cost

           5   Longevity

           6   Competitiveness
    Lender Deciding Factors

   Reputation/ Track record                   Service
     1   Whether you opt for a small or a      2   Service is important part of any
         large brand mortgage lender,              deal and a mortgage is no
         one important thing you must              different.
         check for is their reputation in
         the market. Their track record            In addition to reliable and
         will tell you about their previous        quality service, the lender
         performance.                              should offer additional services
                                                   like      free       counseling,
         Also,   you     can    ask   for          educational materials and free
         recommendations from your                 credit reports
         family,   friends,    neighbors,
         colleagues         or      other
    Lender Deciding Factors

   Lender fees                                 Closing cost

     3   Lender fees is as crucial as           4    Fees such as Broker Fee,
         interest rate as it constitutes 1-2         Loan Lock Fees, Commitment
         % of your total mortgage value.             Fee, Tax Service Fee and
         Some typical lender fees include            Processing    Fee     constitute
         application, origination/service            closing costs. It can be
         and appraisal fees.                         anywhere between 10-15% of
                                                     total mortgage value.
         Opt for a lender who charges
         you in the minimum possible                 Always look out for a lender
         way.                                        who     charges   competitive
                                                     closing costs.
    Lender Deciding Factors

   Longevity                               Competitiveness

     5   Look for a company that has        6   Shop, compare and negotiate.
         been around for a long time in         Approach at least 4-5 lenders,
         the business. Find out how long        fill in the application forms and
         the lenders on your list have          compare the offers to find out
         been in business.                              is relatively less
                                                whoFor the best deal costly,
                                                more competitive and then
                                                negotiate for the best financing
               THANK YOU!

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