Most of the people I talk to who are in the very early stages of planning to buy a home ask the same questions. They want to know what their buying power is, what kind of loan rate they can expect, what the monthly payment would be like (especially if you are currently renting.) The best way to get these questions answered is to start talking to a lender. However, there are a lot of lenders out there and they aren’t all the same! Here is a little insight on how to pick a lender.
What to Look for in a Mortgage Lender
First, off they’ll all have a license. That is a good starting point. Generally, their website or their business card will list an NMLS#. That will let you look them up if you need to.