S1EP33 – Shopping For A Lender, Shopping For a Rate

Are you a first time home buyer wondering how to get the best interest rate when buying a home? How do you find a lender? Why is it important to shop for a lender? Where do you start when getting pre-approved? What questions should you ask when talking to a lender? In this episode, we are going to address all of these questions about shopping for a mortgage lender as well as the questions below to help you become The Educated HomeBuyer.

  1. If you need to get pre-approved, you need to find a lender and you need to be able to get a valid, accurate rate quote
    1. Why is it important to shop for a lender?
    2. How do you find a good lender?
    3. What questions should you ask when talking to a lender?
  2. What should a prospective lender ask you on the first call?
  3. Where does the rate fit into choosing a lender?
  4. Besides rate, what should you be asking about and looking at (fees)?
    1. What is Box A on the loan estimate?
    2. Why is Box A important?
    3. Do the other boxes on the LE matter when shopping for a purchase mortgage?
  5. Should a lender give you a loan estimate if you haven’t applied for a mortgage?
  6. Is a fee sheet an acceptable alternative?
  7. Why is it important to shop for rates between lenders on the same day?
  8. With specific types of loans, how important is experience with the program?
  9. How do you know if the lender you are talking to has the experience you need?
  10. Why does your Realtor care who you use for your loan?
  11. Does your Realtor get a kickback if you use “their lender”?

Connect with me 👇 Jeb Smith (huntington beach Realtor/orange county real estate) DRE 01407449 Coldwell Banker Realty ➡I N S T A G R A M ➳ https://www.instagram.com/jebsmith ➡Y O U T U B E ➳https://www.youtube.com/c/JebSmith

Connect with me 👇 Josh Lewis (Huntington Beach Certified Mortgage Expert) DRE 01209148 Buywise Mortgage M:714-916-5727 E: josh@buywisemortgage.com ➡I N S T A G R A M ➳ https://www.instagram.com/borrowsmartjosh ➡Y O U T U B E ➳https://www.youtube.com/c/buywiseborrowsmart

✅ – Want to get connected with us or to a local expert in your market, please reach out at http://www.theeducatedhomebuyer.com/expert

📩 – info@theeducatedhomebuyer.com

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