There are a few things that should be crystal clear before you commit to a mortgage lender. First, you should have a precise Good Faith Estimate. The GFE is an estimate of all the cost of your loan including third party expenses and interest rates. It is mandatory by law for the lender to give an estimate to you within three days of your application for the loan. It is not mandatory, however, for the company to stick to the estimate. This means that you can end up paying more for your loan than you originally expected. To safeguard yourself from this kind of surprise, you can ask your lender to guarantee their GFE. If your prospective lender refuses to guarantee their GFE, you should find another lender.
Choosing a lender to finance your house is not an easy decision to make and not one you should make without careful consideration. With hundreds of companies advertising top notch services, it is up to you to weigh up the options and see which one offers what you need. If you are looking for an Oakland Mortgage Lender, then these are two options you might want to try. Accord Mortgage Company services Oakland and boasts of some of the lowest interest rates in mortgages in the area. They also have a good record of customer service. Their office is situated on 818 Navaronne Way, 94518 Concord, California. PayLess4Finance also offers realistic interest rates. They advertise competitive rates and transparent estimates. They are located at 901A Pacific Coast Hwy, 90277 Redondo Beach, California.