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An experienced and honest Raleigh mortgage broker can make your home buying experience run smoothly and can also ensure you the best possible interest rate given your credit score and the type of loan that you are seeking. Before finalizing any decisions it is important to meet with several Raleigh mortgage brokers to review all of your options.
Your initial meeting with a Raleigh mortgage broker is somewhat of an interview process. The broker will want to know about your past employment history, financial history, and credit score. It is also a good time for you to discuss any questions you may have regarding which type of loan best suits your needs. If you feel that the broker will not be able to get you the best deal possible on a mortgage, then you should move on to another Raleigh mortgage broker.
It is also important to realize that broker generally specialize in dealing with specific types of customers or loans. For example, there may be a Raleigh mortgage broker who specializes in qualifying people who have bad credit scores for a loan. There may be another Raleigh mortgage broker who specializes in getting the best possible interest rate on loans but only for those with impeccable credit. You should find a Raleigh mortgage broker that fits your needs.
By comparison shopping you will have options and will be able to wisely choose the broker that best fits your needs. Also, by coming prepared to your initial meeting with all appropriate documentation will ensure a quick and easy pre-approval process and an accurate quote on your interest rate. Some documents that you should have handy at your meeting include: last two W-2’s or tax returns, last two pay stubs, employment history (names, addresses, phone numbers, and dates worked for the past two years), and a copy of a recent credit report. If you are self-employed and do not receive pay stubs you will need to bring your last two bank statements instead.