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ready to start shopping for a mortgage


robotprom
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okay, my wife and I are ready to start looking for a mortgage for a summer move. we gross around 87k combined a year, about $200 in credit card balances, and have a $291 monthly car note and a $260 monthly student loan payment. All the dings on our credit reports are at least a couple of years old. We're in Florida.

so I'm not sure of where to begin shopping. We have a good relationship with our credit union but I think their rates a little high. Does anyone know of lenders that deal in the Tampa area? Ideally, how many lenders should I talk to, or should I go through a broker?

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okay, my wife and I are ready to start looking for a mortgage for a summer move. we gross around 87k combined a year, about $200 in credit card balances, and have a $291 monthly car note and a $260 monthly student loan payment. All the dings on our credit reports are at least a couple of years old. We're in Florida.

so I'm not sure of where to begin shopping. We have a good relationship with our credit union but I think their rates a little high. Does anyone know of lenders that deal in the Tampa area? Ideally, how many lenders should I talk to, or should I go through a broker?

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Your credit union is a great place to start. Many times they don't want to lend money for homes unless the borrower has great credit, but it really won't hurt to see them first.

I would suggest that you get a copy of your tri merge credit report if they run one (And they sort of have to do that to give you an approval) then with that report you can discuss rates and terms with other lenders (and or brokers) as the important thing about your credit report are 1) the scores, 2) type/length of time/high credit/payment size, and that you can relate to the people you are talking with.

You really want to be careful about having your credit run a lot of times; your scores won't go down for 13 days after the first credit report is run, and won't be reflected in what is reported for 29 days, but they will go down at some point.

Charles

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