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Checklist for Choosing a Mortgage Lender
A mortgage is a financial commitment that can affect your lifestyle for many years. Take your time selecting a mortgage banker or lender that best fits your needs and financial situation.
Whether you work with a traditional bank, credit union or specialized lender, follow these tips to find your best match.
- Don't assume you'll be eligible for the advertised lending rates. Get a personalized quote from each lender.
- Find someone you connect with. It helps if you agree on the best mode of communication, whether that's email, texts or phone calls.
- Make sure the lender offers the specific services you need, such as pre-approval. Ask about prepayment penalties or online-payment fees.
- Check reviews for feedback about customer service and ease of making monthly payments.
- Contact each lender and review your questions. Follow your instincts about whether this is a company you can trust.
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