Posted on: 28th Jan, 2013 02:06 am
I want to take out a FHA loan in few weeks. The home I'll be purchasing is $83,500. I want to take out a 15 years fixed loan. I have the 3.5 down, the required credit score, and am good as far as taxable income earned and the required DTI limit. I'm looking ahead and my one concern now is closing costs. Would it be wiser to work with a broker and let them know upfront to search for the lender who will provide the lowest closing costs for my situation? Should I try obtaining the mortgage through my bank?
Hi Guest,
It will be a good option to contact a broker than your bank as the broker will give a number of options. Thus, it will become easier for you to chose the lender offering a low closing cost loan.
Thanks,
Jerry
It will be a good option to contact a broker than your bank as the broker will give a number of options. Thus, it will become easier for you to chose the lender offering a low closing cost loan.
Thanks,
Jerry
Whatever be the options that you get, you need to compare those options and check out where the closing cost is minimum. Then you can make the final call.
Minimum closing costs charged by the lender should not be the only criteria. You need to check out whether or not the lender is a genuine one.