Knoxville Mortgage Companies
Looking through Knoxville mortgage companies to find one that caters to your specific income, level of credit, and purchase price can be daunting, to say the least! Here is my top 10 list to help you avoid common mortgage problems and find one that will work for you.
Knoxville Mortgage Companies
Tips 1-4: Avoid These Crooks and Snags
Navigating the river of mortgages available to you can lead you through some seriously hazardous waters. Like losing-your-house kind of waters. Be on the lookout for:1. Contract Slight-of-Hand Some lenders slip extra clauses into contracts during closing, when un-suspecting buyers are overwhelmed by papers to sign. Read your contract! And don’t sign anything that looks wrong unless it’s explained to your satisfaction. 2. Market Volatility Knoxville Mortgage prices change every day – sometimes more than once – so be sure you consider time when making shopping comparisons between companies. 3. Low-Ball Quotes Volatile mortgage markets also allow dishonest lenders not to honor low-balled quotes. If someone does this to you, walk. 4. Lender Fee Hikes Knoxville Lender fees are not locked, and some lenders take advantage of that by coming up with new ones at the end of closing. Frustrating, but you should make it a deal-breaker.
Knoxville Mortgage Companies
Tips 5-8: The Snag Busters
Avoiding the ugly problems above is as easy as following these next three steps.5. Know what you want. Do you want an Adjusted Rate Mortgage or a Fixed Rate? How many years? What is your down payment? 6. Do Your Knoxville Mortgage Shopping Online. If you have good credit, you want to price shop. The easiest way to do that is online – if you know where to look (I’m getting to that). 7. Say NO to All Mortgage Marketing. Unsolicited flyers, letters and phone calls are all seriously bad news. Just say no! 8. Get somebody else to do all the hard work for you. Utilizing the services of an Upfront Mortgage Broker can wrap all the above steps into one. UMBs disclose all fees before you get started – no tricks.
Knoxville Brokers work with lenders every day, so are much better shoppers than you can ever be.
UMBs have counseling you can trust to help you get the right mortgage based upon your circumstances.
Knoxville Mortgage Companies
Tips 9-10: The Solutions
Though I couldn’t find a Knoxville mortgage lender who was listed as an Upfront Mortgage Lender, I have two solutions for you that will probably leave you happy with your results.
9. Mortgage Investors Group is headquartered in Knoxville, has 13 branches, and claims to be Tennessee’s leading mortgage lender. Though I don’t have the data to verify that, I do have experience with them.
My wife and I bought our first home through MGI, got an excellent rate, and had a very friendly agent who walked us patiently through the whole process, and offered advice when needed. All in all, we were very happy with MGI.
10. E-Loans isn’t local, but they’re an excellent Certified Upfront Mortgage Lender. Below are just a few of their other accolades:
Ranked #3 in Privacy by the Customer Respect Group
Ranked One of the Safest Places on the Web by Computerworld.
They’ve also received high praise for ease of use, which is a good thing for folks (like me) who get frustrated easily.
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