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Sandy55
My family ROCKS!!!
Member since 2/08 1219 total posts
Name:
Sandy
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Your Mortgage Advice?
We have already been pre-approved for a mortgage, but we are going to another broker to get the actual mortgage.
Is there anything I should look out for?
What is your Mortgage advice?
Thanks again and again!! 
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Posted 8/13/08 5:02 PM  |
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dandr10199
Grace is growing up too fast!
Member since 10/05 11561 total posts
Name:
Dina
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Re: Your Mortgage Advice?
BEWARE of "no points" and the word "free"
Ask for EVERYTHING in writing. GL!
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| Posted 8/13/08 5:09 PM |
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qtdimps231
LIF Toddler
Member since 11/07 477 total posts
Name:
Diana
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Re: Your Mortgage Advice?
i agree. make sure you get a good faith estimate for closing costs and they explain all the costs individually. shop around for a rate. you dont have to go with the place that pre-approved you. find out what their lock in rate length is (30, 60, 90 days).
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| Posted 8/13/08 6:26 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Your Mortgage Advice?
best advice ever
if it sounds to good to be true
it is
esp with a purchase you have to be careful - shady people know once you get to the closing table- you are not going to walk away and lose your down payment- so if the rate or terms are not what you originally agreed to- you will sign to not lose your money- that's the oldest trick in the book- and people still fall for it- even after they are warned by honest people in the business
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| Posted 8/13/08 9:17 PM |
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Sandy55
My family ROCKS!!!
Member since 2/08 1219 total posts
Name:
Sandy
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Re: Your Mortgage Advice?
Posted by dandr10199
BEWARE of "no points" and the word "free"
Ask for EVERYTHING in writing. GL!
Hi..and thanks!
Why beware of no points?
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| Posted 8/13/08 10:04 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Your Mortgage Advice?
Posted by Sandy55
Posted by dandr10199
BEWARE of "no points" and the word "free"
Ask for EVERYTHING in writing. GL!
Hi..and thanks!
Why beware of no points?
b/c if it sounds to good to be true it is
points and yield spread are how banks make money- banks like to make money
if you don't see the points on the front- they are hidden on the back (yield spread)
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| Posted 8/13/08 11:24 PM |
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