Wednesday, July 13, 2005

Shopping for Mortgages

I came across a good primer for getting started with shopping for mortgages and thought I'd share.

I'm a financial news junkie. I think I picked it up during the dotcom days when I'd rush home from classes at the University of Wisconsin to watch the closing bell on CNBC. This thirst for the latest and greatest in current events led me to Holden Lewis's blog at, which I check frequently. It's a great resource for mortgage news.

Something from the article that I've found to be true.
Even if the mortgage broker can only match the best offer you've seen, it may be worthwhile to go this route, simply because a good mortgage broker will make the paperwork a lot less of a hassle.
While a great mortgage broker is a good asset to have on your side, I'd still recommend talking to a few different lenders. Talk to some banks, your credit union, and talk to some mortgage brokers. Ask your REALTOR for a referral. Agents deal with all sorts of lenders and most would be more than happy to recommend a few good lenders to contact.

Happy househunting!