Now that you know the different types of lenders, you need to find your own lender. There are many places to look for lenders, but the best way is by asking your friends and family about their mortgage lender. If they liked the lender and received quality service, consider meeting that lender. Check with your bank or credit union. See what loan terms they have available. Also, look in the newspaper. The business and real estate sections often have information about rates. However, steer away from many of the lenders who make promises such as “we can get a loan no matter what.” They may make promises of low rates, no down payments and loans even if you have bad credit. Many of these lenders prey upon people and cause more debt for the borrower. Click here to read more about predatory lenders.

Your REALTOR^®, based upon his or her experience, may offer to help you obtain a mortgage loan. He or she may also recommend that you deal with a particular lender, title company, attorney or settlement/closing agent. You are not required to follow the recommendation. You should compare the costs and services offered by other providers with those recommended by the real estate agent.