Choosing a mortgage broker or lender in California is an important financial decision that can have long-term implications for your family and your finances. Our home values are high and many Californian’s largest financial asset is their home.
Before you begin your search for a trusted mortgage broker, assess your financial situation and financial goals. Determine your budget, any down payment amount you can apply to a home purchase if applicable, your credit score and your income. Taking the time to evaluate your finances will help you find a mortgage broker that aligns with your unique situation and needs.
When speaking with mortgage brokers get their quotes, review their expected fees and ask about any special programs they offer for your situation. Then check their reputation through online reviews on Google and Zillow. Also check their California licensing for current status by going to the California Department of Financial Protection & Innovation.
Evaluate the loan options discussed and determine which mortgage broker can provide you with the type of mortgage that is best suited to your needs.
Pay close attention to how the mortgage broker interacts with you on your first call. Are they informed, helpful, a good communicator? Did they spend time answering your questions? Did they provide a transparent and easy to understand information? Having an experienced mortgage broker who is responsive and communicates well can help alleviate anxiety during the loan application process.
Choosing a mortgage broker is a personal decision and what works for one person, friend or family member may not be the best fit for you. Take your time and do your research!
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