How Do I Prevent Spam Calls When Applying for a Mortgage?
Make sure you opt out of offers for credit or insurance through OptOutPrescreen.com. This should be done BEFORE you apply for a mortgage. None of my preferred lenders will ever sell your information, but unfortunately the credit bureaus will sell it after a hard credit pull.
If you have questions about how to prepare your credit before applying for a loan, check out Chad Bowman’s great write up. He specializes in VA loans, but the information is useful for all buyers regardless of mortgage type.
Choosing the right lender is very important. If you buy new construction, you will likely want to use the builder’s preferred lender because of the hefty incentives often offered. If you buy a resale home, I highly recommend using a local lender for several reasons — the most important is that it makes your offer stronger! Local lenders have a reputation to protect, and they are smaller and easier to work with than the big banks. When evaluating multiple offers, listing agents will factor in whether you are using a local lender.
The most common reasons real estate transactions go south are:
Something majorly wrong with the house was discovered during the inspection
Financing falls through
You need to make sure that your lender is on top of the transaction and has adequate experience in the specific market you are purchasing in. It’s also important that they have experience in your loan type. You don’t want any surprises!
Reach out for my preferred lender list for the Austin metro area. I don't get any financial incentive for referring lenders. My only incentive is that I know these professionals consistently get my clients to close smoothly! I have lenders who offer:
Construction loans
FHA loans
USDA loans
Down-payment assistance
Mobile home financing
Conventional financing
Jumbo loans
VA loans
Spanish-language communication and paperwork
And more!