Avoiding Common Mortgage Mistakesby Unknown
There are some important steps that you need to accomplish before taking on a mortgage. 1. Choose Your Lender Carefully - Choosing a lender that you trust and are comfortable with is a lot more important than picking the one that offers the lowest interest rate. 2. Research your Options - When looking around at different mortgages (ARM, FHA, HELOC, reverse mortgage, etc) and mortgage rates it is especially important to consider the length and structure of the mortgage. 3. Check for Hidden Fees - All lenders are required by law to supply a mortgage applicant with a Good Faith Estimate within three days of processing their application. Once you receive your estimate carefully check it for hidden fees.