Things You'll Need:
- Internet Access
- an E-mail address
- a pen and some paper
- a telephone (optional)
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Step 1
The first thing you want to do is a couple of online searches on google.com . Search for the most targeted phrase you can think of. (i.e. mortgage brokers in chicago.) The longer the search term the more likely your search will return the most relevant results.
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Step 2
Once you find 3-4 different brokers in your area, you want to call each or e-mail them asking what services they provide while arranging your mortgage. Determine who sounds like they are a concierge. Bear in mind that these people want you to be happy,and want your deal to close. That is the only way they can make money.
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Step 3
Give them information on the property you are buying, and ask them for a ballpark quote. They probably wont give this to you, because that quote is impossible to stand by. So ask them about the rate they got on a similar property recently.
Now, go to the bank where you do your regular banking and sit down with their loan officer. Tell them that you received XYZ quote from ABC firm, and you would like to know how competitive he can be.
Once you receive a quote from your local lender, call back the mortgage brokers you spoke to, and tell them to shop around your deal, excluding XYZ bank which you already have a quote from.
