Whether you are buying or refinancing, applying for an Idaho mortgage loan is a big step. Buying or refinancing a home can be an emotionally-charged experience… and sometimes a frustrating, time-consuming one as well. But choosing the right mortgage company can make the process smooth and even enjoyable.

Because the same underwriters and loan options are, in general, available to most mortgage companies, home buyers (and those refinancing) should worry less about “shopping for a loan” and, instead, focus on selecting the best company to do this work for them. Similarly, many people switch to a local, smaller, more personal, and more driven mortgage company after learning the hard way that trying to work with large, well-advertised, national lenders or brokerage companies often results in bureaucracy, communication frustrations, and even less favorable loan terms.

Be mindful of “bait-and-switch” tactics, where mortgage companies work up Good Faith Estimates (GFE’s) for your loan that seem much lower than everyone else’s. Sometimes, in an effort to quickly win your business, these “estimates” are actually written in less than good faith and can come back later on much higher – sometimes even at closing time, after you’ve invested much time and energy. Bottom line: don’t immediately shy away from “high” GFE’s; respect the age-old adage: “If it sounds too good to be true, it probably is.”

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