Business & Finance Renting & Real Estate

How to Get Multiple Mortgage Rate Quotes With Fewer Credit Inquiries

It is a common technique for a loan officer to tell his/her customer not to have other inquiries on their credit because it may cost them their loan.
Although, this in rare circumstances may be true, it is usually an exaggeration by the loan officer to keep the loan prospect from shopping around.
The technique used to combat this scare tactic is to get your own copy of your credit report, and shop multiple lender's with your single inquiry.
You can sometimes get a copy of your credit report for free, and this is the perfect way to find out what other lender's are offering without worrying about your credit score.
The most important thing to remember at this stage of the loan process is thatyou are interviewing potential lenders.
Loan officer's can be very skilled at making applicants fill they need the lender more than the lender needs them.
At the end of every conversation, you should remind yourself that it is them that is trying to earn your business.
After you have selected some lenders from these "preliminary" proposals, this is when you will start letting a few lenders pull their own credit reports to verify the accuracy of yours.
At this point you are letting the lenders know you are interested in their proposals.
Make sure they understand their are other lenders still in the picture.
SHARE
RELATED POSTS on "Business & Finance"
Stamp Duty Mitigation
Stamp Duty Mitigation
Real Estate 101 - Understanding Mortgages
Real Estate 101 - Understanding Mortgages
I Sell Real Estate, Why Do I Need Technology?
I Sell Real Estate, Why Do I Need Technology?
Why My Retirement Is on Par With Property in Turkey
Why My Retirement Is on Par With Property in Turkey
Which Is Which? Buy or Rent?
Which Is Which? Buy or Rent?
Should You Pay Your Landlord If He is in Foreclosure?
Should You Pay Your Landlord If He is in Foreclosure?
How to Sell Your House Privately in 7 Days
How to Sell Your House Privately in 7 Days
A Guide to Going Bankrupt in Real Estate!!!
A Guide to Going Bankrupt in Real Estate!!!
Rooming Houses
Rooming Houses
Estate Planning 101: What Should You Include?
Estate Planning 101: What Should You Include?
Australian real estate reign to end?
Australian real estate reign to end?
Southend Builders: Your Home Our Responsibility
Southend Builders: Your Home Our Responsibility
How to Live Away From Modernity
How to Live Away From Modernity
How To Recognize A Good Laguna Beach Real Estate Agent
How To Recognize A Good Laguna Beach Real Estate Agent
Using Recycled Boxes During Your Move
Using Recycled Boxes During Your Move
Thinking of relocating to Glasgow? Well here are some of the things it can offer to your company:
Thinking of relocating to Glasgow? Well here are some of the things it can offer to your company:
FHA Roof Protocol
FHA Roof Protocol
Buy to Let Mortgage Quote
Buy to Let Mortgage Quote
Selling in Summer? Don't Forget About the Backyard
Selling in Summer? Don't Forget About the Backyard
Home Buying Grants - Free Money
Home Buying Grants - Free Money
Denver Decor - Sunrise Fresh Home Design Staging For Your Mile High Home
Denver Decor - Sunrise Fresh Home Design Staging For Your Mile High Home
Advantages You Get By Getting House and Land Packages in Perth
Advantages You Get By Getting House and Land Packages in Perth
Customized Long Distance Moving Solutions
Customized Long Distance Moving Solutions
Find Your Dream Home at Geotech Blessings
Find Your Dream Home at Geotech Blessings

Leave Your Reply

*