Mortgage Rate Shopping – Q & A

  1. How do I get the best mortgage rate?

  2. What are the biggest myths about home loans?

  3. Should I shop around for mortgage rates? How would you do it?

  4. Does it hurt my credit if I shop around for a mortgage?

  5. I’m buying a new home. Should I get a 5/1 ARM or a 30-year fixed mortgage?

  6. Get a 15 year home loan and save on interest or get a 30-year loan and save for retirement?

  7. What are some of the worst-case scenarios when buying your first home?

  8. How much money do you need to have in the bank before applying for a mortgage?

  9. What is the most stressful part of getting a mortgage?

  10. Is there any risk in accepting a lower mortgage rate from a less well-known bank or lender?

  11.  Why do all mortgage brokers offer such terrible service?

  12. Must I use the mortgage company that my builder directs me to?

  13. Why do mortgage underwriters wait until the last minute to request documents to close a home?

  14. Are online mortgage lenders more problematic than traditional ones?

  15. What credits can I ask mortgage lenders when I get them to compete against each other?

  16. Why does buying a house bring down your credit score?

  17. Is it better to rent or buy a house when you’re in your 20s?