Who is the best mortgage broker in dallas texas?

Question

Who is the best mortgage broker in dallas texas?

Answer 1

Impossible to answer. Best has many faces. If you are looking for a broker then shop at least three companies including one you have never heard of. Compare the Good Faith Estimates/Truth-In-Lending and do some additional homework. Look at the total closing costs paid by borrower and paid by seller. Look at the interest rate and the annual percentage rate (on the Truth In Lending statement).

Here's a good test: call the mortgage brokers, ask for an interest rate. The first one who says something like, "There is no way I can give you an honest rate without examining your credit history, income, assets, and the property and your purpose of the property" is a good one. The ones who just throw out a rate are idiots.

Ask how long they have been in the industry and if they work full time from an office or part time from their kitchen. Go to their office and meet with them if possible. Check the state regulator's website (http://www.sml.state.tx.us/) and see how long they have been licensed and what type of license they hold. Too bad Texas doesn't do like Georgia and show the number of loans closed and the number of complaints.

I know how important it is to find someone you like but it's even more important to find someone you can trust who will get the job done and it's usually not the loud-mouthed advertisers or national companies.

Best to you in your search and take your time. There is a TON of information about mortgages at the HUD website http://www.hud.gov