Tips/do's/don'ts for shopping for lenders?

Asked by Newhomebuyer8522, Richmond, VA Thu Apr 23, 2009

Can someone please provide me with some tips for shopping for lenders? I am aware comparing is key, but doesn't something like $75/mo difference still make a big difference at the end of the year? I will be going to several of the big banks but I have no earthly idea how to negotiate fees/closing costs by the lenders. Is it acceptable to say that I am getting lower fees from one bank and to ask the second bank to consider matching that? Thank you.

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Robert Spino…, Mortgage Broker Or Lender, Mill Valley, CA
Thu Apr 23, 2009
Newhomebuyer,

I wrote a blog here on Trulia not too long ago called "The Rules of Refinancing." And while you may be looking to purchase and not refinance, I believe that a lot of the same principles hold true when looking to find the right fit in home lending.

If I can be of service in any way, don't hesitate to call or reply, but do check out that post and I think you'll find it beneficial.

Best regards,

Rob Spinosa
rspinosa@mortgagemasterinc.com
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