• There are oftentimes major differences between various lending sources, so shop around for the best loan and visit several reputable mortgage brokers and lenders.
  • Compare interest rates, fees and points and examine all of the terms of the loan.
  • The law requires mortgage brokers and lenders to notify you of your right to review your credit score and the key factors affecting your credit score. Obtain a copy of your credit report to verify that it accurately reflects your credit history.
  • In most mortgage loan transactions, you are entitled by state and federal law to a "Good Faith Estimate" disclosure of the costs and expenses you are expected to pay in connection with obtaining the loan. Read it carefully and question any items you don't understand.
  • Double-check the loan application for accuracy in the cost of the home, your income and your employment information. If false information is provided, you could lose your home if the lender decides to foreclose and/or even face criminal charges.

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