Mortgages & Financing

[maljer424]

How do I find one? What's the screening process like?

[Melissa Schnell]

Hi Maljer424,

There are a few ways to find a mortgage broker, but my recommendation would be to ask around- you can ask your Realtor, your friends and family, or colleagues to see who they've used in the past. That way people that you know and trust can refer you to a loan officer worth working with. I'm not sure what area you are looking to buy a home in, but I am a Realtor in Southern CA that has quite a few great lender contacts that come recommended by my clients.

Also, on our website at ZipRealty, we have a Mortgage Center where you can pre-qualify online and have a mortgage associate from Bank of America contact you directly. You can get to that webpage by clicking this link ZipRealty Mortgage Center.

Getting a loan pre-approval does not cost you anything and can be done quickly so long as you have the required documents that the lender requests of you. They generally will need your recent paystubs, past couple months of bank statements (all assets including checking & savings, brokerage accounts or 401k's), your past 2 years of tax returns and your authorization to pull your credit report. The loan officer can get info from you over the phone and via email, or you can go to their office and meet with them directly. They will then give you options of various loan programs that are currently available given your financial situation. Once you have that pre-approval letter you are ready to look for your new home!

Hope this helps!

Best regards,