Learn the Basics of Choosing a Mortgage Lender

There is no understating the importance of working with an expert, trustworthy lender.

Choosing a Lender
Whether you are purchasing your first home, or you're an experienced homebuyer, there is no understating the importance of working with an expert, trustworthy lender. A good lender can save you time and money by simplifying and clearly explaining the loan process, while presenting you with a full range of options. Your lender must also truly understand your goals, and find the best pricing and terms to fit your individual needs.

Working hand-in-hand, your Real Estate Agent and lender should provide you with choice, convenience, and control. Buying and financing a home could be the largest financial transaction you'll ever make, so it is essential you receive expert advice throughout the process.

Learning About Buying a Home
Because purchasing a home is such a significant financial step, it pays to understand certain aspects of home financing. A little basic knowledge can help you to make informed decisions and help ensure you are satisfied with the terms of your investments. It's important to understand the lending process, and prepare for certain steps and decisions. You should also become familiar with some of the basic types of loans available for first-time homebuyers, as well as some common mortgage terms and credit basics. In addition, it is crucial that you work with an experienced lender that will offer sound advice, many options, and guide you every step of the way.

Getting Started
Getting started with a loan for your home purchase can be fast and simple. It only takes a couple minutes to securely complete a free pre-qualification form online. Or, if you're ready, you can apply for a loan right now. Once your application is submitted, one of our professional and knowledgeable Loan Officers will contact you shortly to discuss your best financing options.

Residential Wholesale Mortgage, Inc also offers a free, no-obligation consultation. We are happy to offer advice and answer your questions at no charge. Simply call 800.865.6266 to speak with a qualified loan professional now.

European Concerns Increase

Increased concerns about Europe helped mortgage rates improve this week, although the impact of the recently passed extension to the payroll tax reduction is beginning to push up mortgage rates for certain loans (discussed below).

The news from Europe was mostly negative this week. Economic growth in Germany was slower than expected. Negotiations on restructuring Greek debt did not progress as planned, increasing the risk of default. S&P is downgrading the debt of several European countries, including France. Finally, the European Central Bank (ECB) provided no relief, as it gave no indication that it would increase the level of aid available to troubled countries. As a result, investors shifted funds to relatively safer investments, including US mortgage-backed securities (MBS), which helped mortgage rates move lower.

The recently passed extension to the temporary payroll tax reduction contained a lightly publicized revenue raising provision to increase the guarantee fees charged on Fannie Mae and Freddie Mac loans. This fee results in higher rates for borrowers, and mortgage rates for loans not expected to close within the next month or so have begun to reflect this coming increase in guarantee fees.


	800.865.6266

Call 800.865.6266 for current interest rates. Each rate quote we provide is custom & we offer the most competitive products and programs available in the market place when considering your specific situation.

Rates are subject to change.