Welcome to My Loan Expert

Home Purchase Mortgage

Selecting a mortgage lender to perform your home purchase loan is an important part of the home purchasing process. A good mortgage lender can make the process enjoyable and stress free, whereby the wrong lender or inexperienced loan officer can really cause problems. These problems can arise at the last hour when you really need your loan officer to perform and sometimes, you don't find out until much later in the transaction that your loan officer is less than capable. You are then potentially in a position where you have to take a loan with unsuitable terms.

Ask the right questions

Make sure to ask your loan officer the right questions prior to commiting to their services. Important things to know include the status of the company with local licensing authorities. The state in which you are performing licensing almost always has a licensing board and offers a way to research your lender or loan officer. Get references from past clients that have closed "Purchase" transactions. You want to know if they can perform within the time requirement and within the promised terms.

Get a full pre-approval letter

Make sure that your loan officer performs a full preapproval including seeing all of your income documentation (necessary for the loan type, i.e. reduced documentation loans require less income documents), runs your credit report and runs your loan through a credit underwrite. A credit underwrite is one in which your loan is underwritten without having a property in contract. This may be as simple as a automated underwrite from Fannie Mae or Freddie Mac.

Education about current mortgage trends and money saving tips and articles complete the content of our site. Within MyLoanExpert.com you will find money saving ideas that may give you information regarding the latest news that may influence the decision you take on your next mortgage. We encourage you to click through our links page and see all articles and headlines, as you become more informed about recent money saving advice.

If you are considering a refinance mortgage in California, New York, Florida, Texas or any state within the US, you may find a mortgage quote from our network of lenders. A mortgage refinance quote is available for any one of a number of programs, whether that be a 30 year fixed mortgage 15 year fixed or a shorter term adjustable such as a 5/1, 3/1, or 10/1 Adjustable rate mortgage.

Escape From Between The Rock And The Hard Place

What follows is an all too familiar story in hundreds of thousands of homes across America. Mr. and Mrs. Owin finally realized the dream of owning their own home in July 2005. They took on a home loan secured against their house in the amount of half a million dollars. It was hard, but they could [...]

Questions about Refinancing

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Shop for a refinance

Shop Around For Refinance When shopping around the mortgage brokers for a change of lender and home loan contract please do not be mesmerized by the price. By price we mean of course the rate of interest. These are nearly rock bottom at this time and therefore very tempting but there are three other important factors [...]