advise you re: more of the specifics. However, it’s important for buyers and their brokers to compare not only the different interest rates, but also all the associated fees, along with the interest rates, including origination fees, points, and any other fees that the lender might include in the deal. For example, any loan that’s regarded as a “no-fee loan” means that all fees have been included in the rates. Even if you’ve hired a mortgage broker to help you sort all this out, and to help you compare interest rates and find the best home loan and mortgage deal for you, you still need to be involved in the process and do your own due diligence. This means it’s your responsibility to ensure you understand every aspect of the mortgage deal. You should do some thorough research and investigation, which includes interviewing whoever is handling the loan, and asking him or all important and relevant questions.
CHECK (AND FIX) YOUR CREDIT
Another task you should undertake before you begin looking for a new home is organizing your credit issues. It’s important to ensure your credit is in order, because making any mistakes at this juncture can take months to correct and might even end up sinking your dream of homeownership. Be sure to obtain your credit report as part of this process. This will provide you with much-needed information in knowing where you stand, and giving you a chance of getting the best bargaining terms. Fix your credit if you need to. If your report shows you aren’t creditworthy for a mortgage, then there’s no point in searching for homes and applying for a loan — at least right now. Use a credit repair company, but do some research first to make sure you find a reputable and affordable company. Some are not qualified
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