Signs that You Need a Second Mortgage Loan Opinion
It calls for a second opinion of a different sort.
Unlike, the professional recommendations made by a physician,
the secondary advice of a new mortgage broker can shed
great value in the pursuit of home loan financing. It
is something that any savvy consumer should consider
when a mortgage lender says that the only chance of
acquiring a loan or owning a home is going to cost a
high interest rate or price tag.
The following home-buying circumstances necessitate
getting secondary advice with regard to the process
of attempting to obtain a home loan:
• When the home you are buying is void of any
additional amenities or no larger than other homes in
the neighborhood but it costs a lot more. That is why
it is suggest you research the value of any house you
have an interest in making a bid.
• When the loan officer asks you to sign a sales
agreement or loan contract that is blank or contains
• When you are informed that the Federal Housing
Administration (FHA) insurance protects you against
loan fraud or property defects (which is untrue).
• When the original documentation of the loan
or the terms of the closing are different from what
was agreed. Prior to signing any loan agreement, be
sure to ask for an explanation of all fee costs associated
with the mortgage.
• Anytime you are guaranteed that refinancing
will automatically remedy any credit or financial challenges,
it is an indicator that the lender may be unethical.
• Anytime you are promised that the only place
you can obtain the best opportunity in a home improvement
is with a specific lender, only.
In summation, anytime a deal to refinance, buy or
repair a home seems too unbelievable to be true, it