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  • FAQ

    • One of the most important pieces to buying or selling a home is securing financing, known commonly as a mortgage.  A mortgage can be easily defined as a loan that a bank or mortgage lender gives a purchaser to help with purchase of a home.

    It’s important, whether buying or selling a home, to understand the ins and the outs of mortgages.  Since the majority of people who buy a home will be in need of a mortgage, having an understanding of the most frequently asked questions can greatly reduce the confusion of obtaining a mortgage.

    There are hundreds of questions regarding mortgages that are asked on a daily basis.  There is no such thing as a “dumb question” when it comes to mortgages.  There are some questions that are more frequently asked than others when it comes to mortgages and home financing.

    Below are the top 10 frequently asked questions regarding mortgages.  Read on to find out what the 10 questions are as well as some insight and information to help answer these frequently asked questions.

    How Do I Start The Process Of Getting A Mortgage?

    One of the first steps to buying a home is getting the mortgage process started.  The first step to getting a mortgage is to find a top mortgage lender or bank.

    One way to find a top mortgage lender to get the mortgage process started is by doing some research online.  The internet has changed how consumers in general shop for services including mortgages.  A simple search of top mortgage lenders along with your City and State will provide several pages of results to the top mortgage lenders in your area.

    For example, a search for top mortgage companies in Rochester, NY will provide several of the top mortgage companies in the Greater Rochester, NY area.  Along with a list of the top mortgage companies are links to their websites as well as reviews.  Online reviews are a great way to learn about a company prior to initial contact.

    Another great way to find a top mortgage lender to get the process started is by asking friends, family members, or colleagues if they had any suggestions for whom to obtain a mortgage from.

    Asking an experienced and top producing Realtor in your local area is another great way to find a top mortgage company.  Most top Realtors will have connections with several mortgage companies whom they know will provide excellent service.

    It’s suggested that when shopping for a mortgage you discuss your options with a couple top mortgage lenders.  Similar to the importance of knowing how to interview prospective Realtors when buying a home, it’s important you know what questions to ask prospective mortgage lenders.  Some of the most popular questions to ask prospective mortgage lenders include;

    • What type of mortgages do you offer?
    • What are all the costs associated with getting a mortgage with your company?
    • How long will it take for my mortgage to get approved?
    • Where are your loans processed and underwritten?