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Question DetailsAsked on 5/20/2011

Important distinctions when applying for a mortgage plan

The important distinctions are reputation, resources and accountability. Almost everyone knows a friend, relative, neighbour or co-worker who has recently had a mortgage or refinance home loans borrowing experience. This is a great way to gather the names of legitimate mortgage loan salespeople — a.k.a. “originators” — in your area. Another source can be your local realtor or your attorney. Not only will they have multiple experiences with these loan originators, they will also act as a source of accountability for the loan originator. A mortgage loan originator will be very wary of losing a valued referral source, based on negative feedback. That fear stems from the fact that they probably receive other referrals from that particular source. The loan originator knows that most realtors and attorneys can be very influential in their marketplace. Therefore, the originator is going to be accountable for his/her actions. This accountability will help you in the long run. Once you have a list of accountable and reputable loan origination candidates, you can see if the advice, programs and pricing they offer suit your needs. The result should lead to your best overall loan and mortgage experience.

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