Whom Can You trust?
Obtaining a mortgage and finding a house are two very
complicated, time-consuming things to do.
The mortgage industry is so diverse and complex that it can
often leave home buyers with their heads spinning. There are
many parties that play a role in buying a home. Such as you, the
buyer. The seller, the realtor, the mortgage company, the
appraiser, etc. The list goes on and on.
With so many people involved in this process, home buyers will
often find themselves asking the question "who can we trust?"
A very good question this is indeed. As I have stressed before
and I will stress again. For this very reason alone, you should
be educating yourself about the mortgage industry.
Not to the point where you need to become an expert, but at
least to the point where you can familiarize yourself with all
the jargon that will be thrown at you, and how the actual
mortgage process works.
When it comes to "who can you trust?' My suggestion to you would
be to ask a family member or a friend to refer you to the people
they used. Someone they had a positive experience with and got
the job done to their satisfaction.
If you don't already know someone in the industry that can help
you, and you were unable to be referred to anyone, than contact
a local reputable realtor to assist you. But before you commit,
make sure you check their references. And always shop around for
rates.
For the most part you will be dealing with two people on a
regular basis, your realtor and your loan officer. Generally,
the people in the industry are very good at what they do, and
are very good at being your advocate.
That being said, it is still very important to find a comfort
level with the people you are dealing with.
Purchasing a home is by far one of the largest financial
transactions you will ever perform in your life, so you want to
be sure all the parties involved get it right.