|
A number of people will help you in each stage of the buying process. You'll almost certainly deal with a real estate broker, or an agent who works for a broker, a mortgage lender, and possibly a mortgage broker.
A real estate broker, or a real estate agent who works for a broker, will have good knowledge of different areas and properties and can make your search a lot easier. But remember that brokers who list homes for sale are working for the sellers they represent and receive a commission, or a percentage of the sales price, at closing. That means they're not actively working to get you a lower price. To avoid paying top dollar, you may want to hire a buyer's agent , or a professional who will help you negotiate a better deal.
When you find the right home, you'll need to find a mortgage lender -- usually a commercial bank, savings bank, credit union, mortgage bank, or another financial services company. If you already have an account with a lender, you may want to check there first to see if you qualify for a preferred rate.
However, it usually pays to shop around so you get the best rate and the lowest closing costs . If your initial application is rejected, or if you aren't sure how to find a lender, you might decide to hire a mortgage broker , whose job is to match you with a lender.
|
