how and where to apply for a hoa loan?

Asked by Husna, 22003 Tue Aug 5, 2008

Hi I am a first time home buyer and have preapproval from Bank of America. our friends advised to check more mortgage loans as it will help us get a better rate one

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CondoAssocia…, , Boston, MA
Sat Aug 9, 2008
Its sound like you're looking for a mortgage. An HOA Loan (also known as a Condo Association Loan) is a very different. It is a specialized loan made to the association that uses the right to assess its members as collateral instead of a traditional property asset. We provide these HOA Loans.
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Angel Head &…, , Gwinnett County, GA
Tue Aug 5, 2008
Your friends are right! I think it’s always a good idea to shop mortgages. However, to determine if you are getting the best deal, you want to make sure to compare apples to apples. For example-One lender may offer a better rate, but they may charge higher in closing costs. If you decide to shop around, you don't want to wait too long in between. You want to call the lenders with in a closer time frame. That’s because each time a lender pulls your credit it may have an effect on you credit score, but as a general rule, if there are multiple views on your credit report from lenders with in a shorter time, they know you are shopping.

I hope this helps.

Angel Head, Coldwell Banker Residential
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Dallas Texas, Agent, Dallas, TN
Tue Aug 5, 2008
Sure you can speak with mortgage brokers if you know what your credit scores, if you reveal your credit scores the loan officer may pull your credit will lower credit scores. When you are speaking with a lender comparing others you need to compare "apples to apples".
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