Mortgage Geeks

The one thing I can’t remind you enough when it comes to mortgages is the importance of finding a trustworthy lender. You are financing your home purchase using mortgage loan with the hope of completing payments and owning the house in full, and the only way you can do that is by getting an affordable mortgage loan from a reliable source.

Out of years of experiences dealing with mortgages and different lenders, I found out that there is actually a simple way to determine whether your lender is trustworthy and works for mutual benefits. If you are on the lookout for mortgage deals, you will most likely be familiar with the term GFE or Good Faith Estimates. Lenders are actually debating the concept of GFE, especially after laws obliging them to issue proper estimates within three days are issued.

Customers are also pressing lenders to stand behind their estimates. If you are in fact dealing with a shady lender, you will be able to spot an obvious red flag when you ask for their Good Faith Estimate containing all related costs of the loan. A shady lender will never back their estimates, making it complete worthless. If your lender is acting this way, walk away and find another lender.