If you're buying a home, obtaining financing is
a critical step in the process. Once you have the seller's acceptance
of your offer, you'll need to decide what type of financing
Certain key lenders are primary sources for mortgage
money. They include savings and loan associations, mortgage bankers
and commercial banks. Some real estate firms have in-house mortgage
which may simplify the financing process.
When you apply for the loan, your lender will
ask questions about your income, assets, debts/liabilities and
employment history. You will need to supply account numbers
for any assets and loans, as well as employer's
names and addresses.
Be prepared to ask the lender questions, too.
Find out about different types of mortgages available, whether
mortgage insurance is required and what types of fees will be
charged at closing.