The key to mortgage matchmaking is being a careful listener. The Diamond Certified mortgage brokers I talked to say a good loan agent will ask the right questions first and then find a loan at the lowest interest rate that fits your particular needs. To get a good match, ask questions and expect informative answers.
The loan agent will pre-qualify you, evaluating your financial situation and credit scores. Here are some strategies to use when shopping for a loan. Don’t make large purchases, such as a new car, while you are buying or refinancing a home, as this new debt may affect your credit scores and therefore the interest rate you are offered. Speak to your loan agent before you pay off or close credit card accounts. Lenders often prefer that you have cash reserves available for your regular payments.