Always ask the relevant mortgage lender questions when shopping for mortgage lenders, and well before you make a commitment to use their services. And, continue shopping for the right lender until you find a lender you feel comfortable with, someone who will assist you in finding the right mortgage product for your goals, not theirs.
Getting preapproved for a mortgage before you go home shopping is not only a good idea but imperative in a market that is highly competitive. Unlike pre-qualification, a mortgage preapproval letter is usually only produced by true creditors (not brokers), and lends integrity to your offer, providing the seller insight and prediction that you have the ability to secure mortgage financing.
Today there are many mortgage lenders and brokers eager to accept your mortgage loan application, and it’s important for you to shop around and choosing the right mortgage lender for your requirements. Here are some tips for choosing the right mortgage lender.