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financial institution recommendation : )

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Anonymous
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financial institution recommendation : )

I am a potential first time home buyer in kentucky and would like to begin shopping interest rates in March. I'm not really sure where to start for lending companies, though...does anyone have any advice? Are there certain large lending institutions that I should try? Is there a site that is helpful for recommending local lending institutions? I'm really unsure of how to best begin this search.

 

Thanks for any advice!

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Anonymous
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Re: financial institution recommendation : )

Networking....Just start asking around friends, family, work, whatever.  You want someone local if you can that way it is easier and wuicker to deal with stuff.

 

What you want to look for (in my opinion):

 

LO needs to know any and all local programs as well as all of the major lendsing options you are considering (i.e. FHA, VA, conventional, etc.)

 

LO needs to be a good communicator (Some LO's call you and freak out expecting you to drop everything to get you a document in 5 minutes but can not do the same and just return a call.)

 

LO needs to be honest and realistic. (you don;t want a LO pushing you into anything you are not comfortable with or giving you pipe dreams about what program/rate/deal/house he can get you into.  Speaking from experience, once you spend a couple days looking around at houses in one price range becasue that is what the LO tells you you are good to go with, it is tough to step back down to what are inferior houses (even knowing that you would have been happy with them before looking at the better ones...)

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