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Any advice on finding a lender for a first time home buyer?

 
Anonymous

Asked by Anonymous at 4:02 PM on Jun. 9, 2011 in Money & Work

This question is closed.
Answers (6)
  • You might want to go through a first time home buyer's program to be safe. these lenders aren't your friend... they need the business. it is best to get educated on what you are getting into. most county governments have organizations and agencies that sponsor them for free. don't pay for the class/program if you don't have to. get pre-qualified. know your options before you have all these lenders looking up your credit scores. like one of the moms said know your credit score. let it be the highest you can get it before you purchase.
    miamoma

    Answer by miamoma at 9:44 PM on Jun. 9, 2011

  • Don't go thru a mortgage broker. And if you are in the Portland ME area pm me and I will give you the name of one to absolutely AVOID at all costs.
    meooma

    Answer by meooma at 4:06 PM on Jun. 9, 2011

  • Do NOT use Countrywide. If you go through a bank, ask them what lender they use and if Countrywide is the only one, find a new bank.
    scout_mom

    Answer by scout_mom at 4:14 PM on Jun. 9, 2011

  • Try being qualified by your own bank, they know you best. If trying for a new home most have their own in house programs. Here is some info to start just be careful.  http://www.quickenloans.com/home-buying/learn/why/first-time-home-buying-mistakes  and also here bank rate http://www.bankrate.com/   collect all information pay stubs, rent reciets 2 years worth, W2, and tax returns.

    sweet11-12

    Answer by sweet11-12 at 4:18 PM on Jun. 9, 2011

  • Which state are you in? I didn't have any problems when I bought. The broker works in NY/ NJ area.
    Alexias30

    Answer by Alexias30 at 4:55 PM on Jun. 9, 2011

  • I went through Fifth Third Bank. They've done me just fine. Definitely try for an RD loan. Zero-down.
    itsmommalori

    Answer by itsmommalori at 4:35 PM on Jun. 9, 2011

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