Before you start shopping for a home, it is essential to get pre-approved by a lender. This does not mean that you cannot keep "shopping around" for the best loan while you look at homes. Once you have a signed (or "ratified") contract, you will need to choose a lender, submit a formal application and many times pay a fee (usually the cost of the appraisal) to the lender.
So, how do you choose the right lender?
It is important to choose a reputable lender, but also one that has the right loan program to fit your particular situation. It is important to carefully compare rates, origination and processing fees, terms, conditions and restrictions before making a final decision.
Some lend...