Looking for a bay area mortgage is not difficult, but you have to be armed with information and resources in order to avoid people who would take advantage of you. If you have worked successfully with lenders, brokers and agents in the past, get in touch with someone you respect in order to get started. If this is your first mortgage, or you’re not sure where to turn, ask friends and family members for referrals. Choosing the right broker will make a big difference in your success in getting a good mortgage.
A reputable broker will gather your information, specifically income, credit, assets, liabilities and details about the type of house you want to buy and what kind of budget you want to be approved for. Then, the broker will shop that information around to a number of different lenders. Before too long, you should have a few good options for mortgages. You can make your choice based on interest rate, required down payments and the terms of the loan. When you’re seeking a mortgage in the bay area, you want to have all the information you need before making a decision.