Whats the best way to find a mortgage loan?
Sometimes using a broker can help because if your credit is questionable they can broker out thatloan to a number of different banks that can possibly accept it. If you are using a BANK bank (like meridias capital, etc.)they ARE the bank and keep the loan in house and a guideline is a guideline, and if you don’t meet that guideline things can get stressful and messy! Shop around, you can run your credit many times for the same reason (lenders looking at it) for up to 15 days and it wont affectyour score. See who can give you the best breakdown/deal/program. It’s called a good faith estimate (obviously you have the property in mind, right?) ARM’s are good and bad. They are good if you know you are not going to be in thehouse for more than 5 years, bad if you are going to be there longer because in 5 years they will adjust. You will only be locked into that rate you close escrow at for 5 years. Either way, lately, you have to have a credit score of 680 or higher to even be considered for
