When you're searching for a home on Long Island, it's easy to focus on two numbers:The purchase price and the monthly mortgage payment.But those numbers don't tell the entire story.Property taxes,
Shopping the lender
Dated: March 15 2023
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We inform our clients to shop lenders, but what is the best way to do so? Here are some quick factual tips!
- Shop the lenders ON THE SAME DAY. Getting multiple quotes on different days isn’t going to do any good; rates change daily!
- ASK, what are your lender fees? Lender fees can be a multitude of items (broker fees, processing, underwriting, origination, junk fees, etc)
- Get a rate quote and always ask “how many discount points?” Discount points are interest paid up front, they’re tax deductible, and a great way to save on your monthly payment!
- Find a lender that offers SERVICE. The loan officer should be a one stop shop, the buck should stop with him/her. They are the ringleader of the transaction. A good loan officer will have a circle of referral partners, will communicate and calm the borrower(s), and always do right by the borrower(s).
Eirini Haralambidis
Born and raised on a Greek island, Eirini was introduced to the world of hospitality, sales and customer service at a young age. Eirini moved to New York to attend Brooklyn College, where she obtained....
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