Danny's Real Estate Blog - Blog Archive: December, 2016

Danny's Real Estate Blog - Blog Archive: December, 2016 Close
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December 2016

There are 2 blog entries for December 2016.

If you've never bought a home before, you may not know there's a difference in mortgage lenders. I'm not just talking about between companies, but the types of lenders. Most people know their banks have mortgage lenders they can walk in and see. But there's also mortgage brokers, who are just a bit different in some ways than the bank lenders. So which one is right for you? Let's take a look at the differences (and similarities) to them.

Bank Lenders

Bank lenders are, as you guessed it, the mortgage lenders who work for a bank. Walk into any Chase, Wells Fargo, Bank of America, and you'll probably find one or two in the branch. Most people will go to the bank with which they have accounts in place. This can be an effective way to streamline your

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A real estate transaction can be a very complex and complicated process, but it can be even more so if a borrower is dishonest with their mortgage lender about anything to do with their finances. It behooves you to be upfront on your mortgage application about any foreclosures, liens, delinquencies, or any demerits your account may reveal. This is also the case with income. Thanks to a recent change in regulations, a lender cannot require for you to submit your financial documents up front as a part of the application. They can strongly urge it, but cannot require it. It's in your best interest to provide them when they mention them. You might think it's an invasion of privacy, but you're going to have to submit these documents anyways. Might as well do

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