I came across a great article today that I believe anyone looking to buy (or refi) can benefit from. It’s easy to get overwhelmed at the sight of paperwork involved in financing a home. Not to mention finding the right financing and professional to work with can take a lot of work on the buyers part but can also take a lot of the hassle out of the mortgage and closing process. Trulia has put together a list of 6 questions every smart buyer (or refi-er) should ask their mortgage professional before they borrow.
Remember today’s loan can affect your budget for the next 30 years to come.
Are you a bank, a broker, or both?
Will you explain my Good Faith Estimate (GFE) to me?
- May I have a fee sheet or estimate of funds to close?
- How long will it take to close?
- Are there any fees for the loan application/approval process?
- How long have you been originating loans with this company?
Check out the complete article on the Resource tab under the “Buyers Tips”.