Mortgage Process

Choosing a Lender

Caution should be exercised when selecting a lender. Loan officers are now regulated in Texas. While there are many excellent loan officers, there are also less than trustworthy lenders. The tricks and traps for an unsuspecting buyer are numerous. Some loan companies will advertise unbelievably low rates only to inform you the rate is not available once you have signed with them. Others may quote low rates but add on hundreds or even thousands of dollars in extraneous hidden fees. You may ask for the interest rate to be locked, but the loan officers neglect to, betting rates will drop so they make more money. These are just a few of the many ways you can be taken advantage of by an unscrupulous lender. It is always a good idea to get recommendations from friends and associates. Quite often some of the larger companies will have Company Credit Unions which can provide excellent mortgage sources.

Past performance, however, does not guarantee future performance. It ultimately is up to you to do the research and make your own decisions.

Next: Types of Lenders

• Real Estate Buying Process
• Choosing a Buyer's Broker
  • Frequently Asked Questions
• Mortgage Process & Closing Costs
  • Choosing a Lender
  • Types of Lenders
  • The Loan Process
  • Lender Recommendations
  • Buyer's Estimated Closing Costs
• Home Search & Negotiations
• Contract to Closing