I recommend working with a mortgage broker, as opposed to a bank or other lending service, Good Brokers not only know policies and histories of local lending agencies, but they know individuals within the different institution, and their knowledge and connections they will be able to get you the best deal possible. Find one whose commission is paid by the bank, it's one bill you should not have to foot.

Best Regards,
Alessandra Marx
alessandra@elikaassociates.com
http://www.elikaassociates.com

There are basically two types of lenders. A mortgage broker represents many companies and can compare the important factors. Banks and some lenders only represent their company and can't be as creative. Ask your Realtor for a list of their top 3 and ask your family and friends. Compare the numbers very carefully. If it looks to good to be true it is and the lender is making their money somewhere. I tell clients to shop for a loan like they shop for a car. Don't take the first deal and ask a lot of questions until you feel comfortable. Enjoy the process! It takes time but is well wroth the effort.

First - I would try to get recommendations from family, friends and co-workers - who have they used, who did they feel most comfortable with, etc.
I would also suggest applying with several Brokers - compare the offers and see who you feel the most comfortable with - who answered all of your questions, who was the most open, that kind of thing.
Regardless of the majority of the BS that you see in ads EVERY day, most Brokers will offer the same types of loans and have access to the same range of rates - what really separates the pack is the service the individual provides.

Halley, Great question... In the current market conditions you really bring up an important question. So many people feel that credit is the live and die all. While your credit score is very important it is only one piece of the puzzle. My suggestion is to find a Mortgage Broker who has the ability to bring your files to many lenders and who is willing to sit down with you and go over step by step everything. In addition make sure everything that the person tells you is in Black and White.

Hello, You would begin with the credit scores, do they have collateral, and what type of income do they have. Then you sit down with your lender, work with one that has many lenders to choose from. I work for a company that deals with over 150 lenders. Your client is taking on the largest debt of thier lives and finding a good loan program that helps them protect thier financial future. You have to find program that makes sense for client. If I can be of any other help let me know.

Do your homework first. Figure out what you can afford. This will greatly be affected by your income, credit rating, current monthly expenses and interest rate. Shop around. Talk to several lenders, compare costs and interest rates. Don't be afraid to negotiate for a better deal. Ask each lender what programs they offer that you might qualify for.

I suggest you check your credit scores first. Many times items show up on credit reports that have alreadey ben cleared up. Once you have these items removed you may have a higher credit score which in turn will allow you to receive a better interest rate on a mortgage. I also suggest you shop around and get three Good Faith Statements from different lenders.

Your credit will have a big impact on what great deals you can get. Banks can offer great deals to buyers with excellent credit. If your credit is not perfect, then it might be better to go with a mortgage broker that will be able to find a great deal. However, you are free to shop around and compare.

The Keyes Company offers mortgage and title services. They can find the program that will work for you.

The internet has allowed the playing field to be leveled with regard to rate, but continues to be challenging as to service from the mortgage broker. It is important to have a relationship with the mortgage broker that will follow the process step-by-step to insure that there is funding at the time of closing. It is best to have the person with the money to be represented by the mortgage banker.