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How To Choose A Mortgage Lender

Finding the right mortgage lender is more than just selecting the person that offers the lowest interest rate. There are several factors you should consider before choosing a mortgage lender.

Certified Mortgage Planning Specialist

A good mortgage lender should be able to discuss your mortgage payment in detail with you to help it fit your financial situation. They should also be able to offer advice in ways to help improve your credit if your score is too low, or other issues occur on your credit report.

More importantly, a great mortgage lender would get you a pre-approval, not a pre-qualification before letting you look for a home. There is a big difference. A pre-qualification is based on their opinion and brief financial information gathered from you that you qualify. A pre-approval, specifically with Stateline Funding Corp., guarantees you are approved to purchase a home.

Interest rate

Interest rates are important. However, what many consumers don’t realize is interest rates change daily. For example, you may get a quote from one mortgage lender on a Monday, and the next Tuesday you get a quote that is higher. This is typically not the lender’s doing, but due to the fact that the interest rate changed within those 24 hours.

This is why you need to work with a certified mortgage planning specialist who understands what causes the interest rates to fluctuate. When selecting a mortgage lender, you want to have a mortgage planning specialist who knows how to monitor interest rates in real time and watches them daily to guarantee the best rate possible.

Reputation & Reviews

Seek advice and recommendations from family and friends. Referrals are a great way to find a mortgage lender that you can trust. You can also read reviews online. At Stateline Funding Corp., we encourage our clients to leave a review after each transaction so others can learn from their experience with our company. A company should be transparent and have real reviews from clients who have experienced doing business with the company.

How To Get The Lowest Interest Rate When Refinancing

What are the tips and tricks to obtaining the lowest rate possible when refinancing? Well to be honest, you won’t find any. In order to obtain the lowest and best interest rate possible when refinancing, you need to work with a certified mortgage planning specialist.

What is a certified mortgage planning specialist? A certified mortgage planning specialist is someone who has training in the following areas:

  • Financial Market and Interest Rate Analysis
  • Cash Flow & Debt Analysis
  • Real Estate Investment Planning
  • Mortgage & Real Estate Taxation
  • Ethics and Compliance

The key training that a mortgage professional has when helping you receive a low-interest rate, is the training to be able to analyze the market in order to understand how and why interest rates are continually changing.

So often, consumers shop around looking for the best interest rate, and do not understand why they are receiving so many different quotes from different lenders. What many consumers don’t understand is how interest rates fluctuate and what causes them to change on a daily, even hourly basis.

With a certified mortgage planning specialist, you can be certain that he or she will lock your rate at the opportune time to ensure the best outcome occurs.

We have created a brief four-minute video that will explain what a certified mortgage planning specialist will be able to monitor, such as Stateline Funding Corporation, when it comes to finding the right interest rate for you.

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