Smaller hometown mortgage company... Is it okay to shift beside them how do I know that they wont "screw" me? A co worker wife works at a local mortage company. Is there

A co worker wife works at a local mortage company. Is there any negative about doing this what question should I ask?

Any advice will be functional.

10 points always given for best answer!

by the process its called rural community finance surrounded by highland indiana I cant find them on the web is this a fruitless thing or flawless thing?

Anytime you look for a finance company to catch a mortgage, there are other ways to do your homework and find what questions to ask. Go to this site: http://www.realtor.com/default.aspx at hand you will find ways to ensure how to do things that will make shopping for a home and mortgage company comfortable for you. I would also advise that you procure a free copy of your most recent credit report from here: https://www.annualcreditreport.com/cra/i... you will be able to achieve a free report from all 3 credit agencies. This you will know where on earth you stand, when getting approved for a mortgage.

Just don't get an adjustable rate mortgage, and try for a 15 year mortgage, it will free you a ton of money in the long run.

You can check on-line for current mortgage rates to be sure you are getting a fine rate.

Always compare their interest rates to what's available from other lenders. But compare their fees, too. Ask for a schedule of ALL the fees that you will be charged. Ask if there are any flexible ones that depend on situations involved, and under what conditions they will be used. If in attendance are hidden fees, or surprise fees at closing, be prepared to any ask them to be waived, or you'll pace away.

Ask for references - culture that have used their services since. You should get at lowest 2-3 people, but 4-5 isn't discouraging, either. Then bid all of them. Don't ask details more or less their mortgage, but do ask if they were self-satisfied. Did the deal close on the dot, did the finance company deliver as promised, be there any clandestine or extra fees at the last minute, be there any errors surrounded by the paperwork, etc.

Ask the mort. company for comparisons of what different plans would cost you. For example, how much would a 25 or 20 or even 15 year mortgage save you?

Find out if they plan to put up for sale your mortgage to an outside investor. A lot of companies do this. We had one mortgage that get sold 2 or 3 times. This isn't necessarily a bad entry, but you want to at least know nearly it ahead of time.

Make sure you don't have a cost for early pay-out. You want the option to do that freely, next to no penalty. If in attendance is a penalty, you may own problems refinancing if you want to do that at some point.

Make sure that the interest is calculated as "simple interest" only. Be sure to ask contained by those terms - google it if you don't know what that way. If it's not, you may pay seriously of extra money for your loan, especially if you want to pay it bad early.

Ask if you are mortal charged for private mortgage insurance. If you are, ask when you will be able to drop this. It's expensive, and dropping it can liberate you some extra money each month.

Ask your realtor what he/she think of this company. They will know if they have a correct or bad reputation surrounded by your area, and they may know how to give you question to ask that aren't listed here contained by YA.

There have be so many homeowners that enjoy been "screwed" by larger mortgage companies, so it isn't something that you should be worried something like from just smaller mortgage loan companies.

I agree near the first poster. Make sure your mortgage rate is fixed, and make sure you check your credit reports and score to ensure they are at their best. It is recommended to do this 6-12 months before looking for a loan so you enjoy some time to improve it.
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