Unless you have money to pay cash for a new house, you are almost certainly going to deal with a mortgage company when you buy a new home. Mortgage companies are there to loan you cash in exchange for a lien on your new house, or to loan you cash in exchange for a second lien when you need more money to pay off credit card debt, to make home improvements, or to have more cash available. There are hundreds, perhaps thousands, of mortgage companies out there all competing for your business; how do you figure out which one is the best?
The best mortgage company will smooth the path for you, providing you will all the information you need to make a great decision. The best mortgage company stays on the top with all the information on the latest trends that are affecting the real estate world. They can be your strongest tool when you go to maximize your investment.
The Best Mortgage Company should
- Willingly give you an application and other information you need on how to apply for a loan
- Willingly discuss with you the various mortgage loans they offer and give you an idea whether you can qualify for them
- Diligently act to make a decision--without undue delay--once you provide all the information asked for (including, for example, written evidence of how much you make or how much you have in savings), and once they receive other paperwork required for processing the application (such as a property appraisal)
- Not be influenced by the racial or ethnic composition of the neighborhood where the home you want to buy is located.