If you’re ready to become a first-time homeowner, you likely haven’t taken out a mortgage before. With such a large loan, it’s natural to be a little bit nervous or concerned about choosing the right lender. Luckily, you can have as many hard credit checks for mortgages specifically as you need to within a 45-day period to allow you to shop around for a home mortgage company. As you look for the right lender, keep these tips in mind.
First, you need to be asking the right questions. For example, you need to know what their turn times and Section A fees are to determine whether or not they’ll give you a good deal on your mortgage. You should also ask who your main contact will be as you get your mortgage.
After you have met with a home mortgage company, you should take some time to think about everything you have learned about them before deciding whether or not to work with them. At a minimum, you need to take a day to really consider your options. Since you have 45 days to explore other mortgage lending options, you can also walk away for over a month and get a lot of information to compare different lenders.