45. How to Shop for a Mortgage Lender (And Save $60,000 on Your First Home)

Most first-time homebuyers only talk to one lender, and it's one of the most expensive mistakes you can make. Research shows that shopping around for mortgage lenders can save you over $60,000 across a 30-year loan, and the process is a lot simpler than most people think. In this episode, I share my insider perspective as a former mortgage loan officer and break down exactly how to compare lenders, what to look for beyond the interest rate, and how to use competing quotes to negotiate a better deal, without hurting your credit score.

Ready to take the first step of finding your first home? Connect with a FAME agent in your area (it's free!)

WHAT YOU'LL LEARN TODAY:

Why the difference between a 6.5% and 7% interest rate costs you $47,000 over 30 years (and $133/month)

How to get pre-approved with multiple lenders within the 14-day credit pull window so it only counts as one inquiry

What to look for on a closing cost estimate beyond the interest rate, including lender fees and points

How some lenders advertise low rates that actually come with thousands in hidden upfront costs

When you can (and can't) lock in your interest rate, and how the loan estimate protects you after you're under contract

How to take a better quote from one lender and ask another to match it, and what lenders will actually do when you ask

Why an experienced agent's lender recommendations are one of the most underrated advantages in the home buying process

RESOURCES MENTIONED:

Connect with a FAME agent in your area (free)