Finding A Mortgage Lender

Terry Said:

How do I find a mortgage lender that does US/Canada loans?

We Answered:

Go to www.daveramsey.com and look for one of his endorsed local providers. Check 'em out and see what sort of deals you can get...

Harold Said:

I need to find good mortgage lender?

We Answered:

I think one of the sponsors here are Quicken Loans.

Doris Said:

How to find Mortgage Lender when on Fixed Income?

We Answered:

Your credit rating will be key here since you have low income. Also your debt load. To qualify for a loan, it's the WHOLE package of you: adequate income, sufficient down payment, stable employment/stable income, low debt load, good credit rating.
Rule of Thumb: You can afford a home not more than 2.5 times your income.
For FHA you need a minimum 3.5-5% down payment, and MORE is better to overcome your other deficiencies. 20% down avoids extra costs of PMI.
Suggest you go to a lender and get pre-qualified, or attempt to pre-qualify. Home loans are not that easy to get nowadays, you have to be able to reassure lender you are a good risk to repay the loan as promised.

Shirley Said:

How do I find a great mortgage lender?

We Answered:

You have 14 days to apply with as many lenders as you would like, it counts as one view on your credit report so it won't kill your score.

Or you can pay a broker to find a lender for you. Just make sure when you shop you compare APR to APR, not just by comparing rates.

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