Finding a mortgage lender is a lot easier these days – thanks to the internet. With just a few clicks, you can already find helpful mortgage information from comparison and aggregation sites, which can help you make an informed decision.

Other places to jumpstart your quest for the best mortgage lender, Dana Point, are the banks and credit unions where you have accounts. Because you have some level of “affiliation” with them, they might offer you special rates and fees.

Friends and colleagues can be instrumental also as they might be able to give some helpful information/recommendations about mortgage professionals in the area.

Preparing for mortgage loan application

Preparation is crucial for you to find the best mortgage deal. So, before you start applying and seek mortgage pre-approval, see to it that you are financially ready. Doing the following can help you become better prepared in choosing a lender:

  • Checking and improving your credit score – check your credit score at least several months before your mortgage application. If you think there’s a need to improve it, then work on it. Paying off credit card balances, making sure you make payments on time, and not taking out loans or opening multiple credit cards will help improve your credit score or maintain a strong one.
  • Saving for your down payment – although a down payment of 20% or more is ideal, you can get loans for as little as 3% down as long as you can effectively cover the monthly payments. But remember, you are highly likely to get better deals when you put a higher down payment.
  • Make sure your income is stable – a mortgage lender in Dana Point wants to make sure you have enough income and healthy cash flow to afford the monthly payments now and in the future.

Choosing from a list of options

It is a given fact that no two mortgage lenders are equal and the same. So you have to exercise due diligence to come up with a choice that you won’t regret later on. Make sure you can perform the following:

  • Doing some background checks (examine the lender’s history)
  • Read reviews from clients
  • Check their ratings and industry recognition
  • Consider working with a broker

Online looking for the best mortgage lender in Dana Point? Contact Homeplus today.

Call us at 800-810-PLUS (7587).