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any advice would be great!

RoxysMamaRoxysMama
First Comment First Anniversary
in California-Northern
DH & I are meeting with a lender today to become prequalified for our first home. :)  Are there any questions you would suggest we ask the lender???  Because this is our first home we are totally in the dark on what good questions are and what we should be doing, any advice would be great! Thanks ladies!
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Re: any advice would be great!

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    adgenyaadgenya member
    First Comment
    edited December 2011
    I'd ask about the different interest rates they have and the different interest rates they expect to have based on the market.

    I'd also just go in knowing what you're comfortably willing to pay for a mortgage rate. We knew where we wanted to live and what we wanted to pay for it on a monthly basis. They can help you get a realistic picture of what it's going to look like. 

    Ditto the above when it comes to closing costs. 

    Also ask questions when you don't get it. They have a lot of terms so asking them to break it down for you is most helpful and re-explain concepts that you've heard of or things you don't understand is important. If they aren't willing to spend the time doing it for you, they're probably not the right lender for you either.

    Good Luck! We just bought our first house in April and believe it or not, but our lender really is what helped make it a smooth transition. 
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    RoxysMamaRoxysMama
    First Comment First Anniversary
    edited December 2011
    Thank you so much for the advice! The meeting went great and DH and I are feeling much more comfortable shopping now!
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    anglynanglyn
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    edited December 2011
    I'm glad to hear that your meeting went well!
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    adgenyaadgenya member
    First Comment
    edited December 2011
    That's awesome! I am glad things went well. Have fun and good luck in your house shopping. 
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