Many first time home buyers are uncertain about when to shop for a mortgage and how to do so. It’s probably easier and less time consuming than you think.
Here are some quick tips on shopping for a mortgage:
- You only need to talk to one bank initially
- All banks follow the same guidelines outlined by Freddy Mac and Fannie May for loan preaprovals
- When you are under contract, then you can shop around to different lenders to find the best loan