Posted on in Consumer Education
Be Informed Don’t sign an application or contract without understanding all the terms of the loan. Originators should be willing to explain all loan terms and conditions. No Pressure Don’t allow yourself to be pressured into a loan. Reputable mortgage originators strive to make consumers aware of and comfortable with their loan options. Use Caution Never sign blank forms in a loan package and be sure to get copies of all documents bearing your signature. If a broker is asking you for personal information that doesn’t seem relevant to the transaction, ask them for further clarification before providing private data. Ask Questions Question any fees you do not understand. Question terms you don’t understand. Question guidelines or explanations that don’t make sense. Shop Around Shop around for a loan originator that you are comfortable with. There are lots of choices for assistance. Don’t take your real estate agent’s word as the gospel. When you are unfamiliar with the process of […]
by jberman