Shop for your loan. Provide your credit score to loan officers and provide them a brief synopsis of your income and debt. Ask them, based on those assumptions, what programs they would recommend.

Loan officers will want to pull your credit, verify your assets and income before committing any program, but you can ask them to invest 30 minutes based upon an assumption that your data was accurately recommended. It's a reasonable request and you need not provide your personal data to everyone within the first 5 minutes.

30 year fixed rate is the only game in town so that will narrow your search.

Adjustables are now a complete joke and short term fixed rate mortgages are only a bandaid and are actually at higher rates then a 30 tear fixed rate rate loan.

What is wrong with this picture?

Don't get sold on short term fixed rate loans.

Take the 30 year fixed. Do not listen to the do gooders that sell anything else. You'll only dig yourself into a huge hole.

A good Rule of Thumb is if you have great credit and good relationship with your bank, they are probably going to be able to give you the best deal. Banks are going to be a little stricter and there is more red tape in order to qualify. A Broker will have a wider vareity of loan products. Interview at least 2-3 Mortgage Lenders and make sure to compare apples to apples. If you can get references from past clients, by all means call them and check on the service. Remember that a mortgage is not just about the payment and the interest rate. Primarily, focus on the best loan that fits your financial needs/ goals, not only for today, always keep the future in mind.

Good Luck
Ken Herrera
Century 21 Infinity

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