Then make an appointment to meet with them. Bring in your 1040's, W'2s, bank statements,
Ask them to provide a Fannie Mae approval, good faith estimate, and truth in lending.
Then you can check with your bank to make sure you are getting a good deal.
Mortgage bankers can access many different loan programs from several different banks. In this market this is very important. If a bank eliminates a program or raises rates on a program your are stuck.
With a mortgage banker, they can simply send your file to another one of their lenders. Usually, there is no charge or additional processing required.
First thing I would suggest is contacting your local bank. Then ask your realtor if they can refer someone to you. It is very important to find an experienced mortgage consultant. Take your time, and work with whoever you fell most comfortable with.
Best of Luck,
Make sure you receive a Good Faith Estimate and a Truth in Lending when applying for a mortgage one will explain all the costs and one will explaing the mortgage. Please keep in mind when shopping if one sounds to good to be true it probably is a scam.
Shopping will help you weed out people whom will not want to work hard for you on your loan. If you have a good working relationship with your bank, you may find them very competitive if you haave great credit.
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