It is best to sit down with at a minimum two lenders or mortgage brokers. I always tell my clients
to try to get the best deal they can. If you use just one you may be paying a lot of junk fee's that sometimes lenders package into their loans.
Get a good faith estimate. It gives you a breakdown of fee's. If you have one from each lender you
can put these up against each other and really see who in the end is really giving a good loan.... more
The seller's lender still has to approve the sale. Remember, they are agreeing to take less than the seller owes them. They have to make sure the home is not worth more than you are offering, and they need to check with their investors who actually own the paper.... more