1. Monitor Your Credit Score
A low credit score to lenders means your are risky which then translates to a higher interest rate. The higher your credit score the more power you will have to negotiate for a better rate with lenders.
2. Know The Lending Landscape
Understand the common types of lenders:
3. Get Preapproved
To get preapproved, you’ll have to provide lenders your financial information. Here’s a list of what a lender typically requires:
Get preapproved by more than one lender. Then you can compare Loan Estimate forms from each one to determine who offers you the best rates and terms.
4. Compare Rates for Different Mortgage Lending Companies
Start by searching for competitive rates. Once you have several quotes in hand, compare costs and decide which one makes the most financial sense for you. Use your research as leverage to negotiate for the best mortgage rates possible.
5. Ask Around
Once you narrow your choices ask your family and friends for referral or your real estate agent can assist you.
Bay Capital Mortgage Corp.
Daniell Legg
VP/Branch Manager
NMLS# 455834
3050 Crain Highway
Waldorf, MD 20601
Direct 301-399-5603
Office 301-870-7420
eFax 240-607-6733
https://www.baycapitalmortgage.com/DanLegg.html
Main Street Home Loans
Michael Marinucci
Home Loan Consultant
NMLS# 1528113
Phone: 443-867-3671
mmarinucci@mainstreethl.com
www.mainstreethomeloans.com
Caliber Home Loans
Timothy Jarboe
Loan Consultant
NMLS# 476392
185 Admiral Cochrane Dr., Ste. 205 | Annapolis, MD 21401
P: (443) 990-1220 | F: (855) 233-7805
tim.jarboe@caliberhomeloans.com
apply online caliberhomeloans.com/tjarboe
Capital Bank
Lola Pol
Community Lending Manager
NMLS# 192773 X2320
3622 12th Street NE - Washington, DC 20017
301-518-6333 – Mobile - 202-609-9532 - Office
844-409-2356 - Fax